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Old 06-04-2009, 11:40 AM
10 posts, read 16,870 times
Reputation: 10


My house was appraised $30,000 over purchase price, and we went to protest. They agreed to adjust it to sale price, but refused to subtract seller's concession from that price. When we bought the house last year, the builder offered us about $8,000 concession paying 6 months mortgage for us. Should they take this concession into account and subtract it from the sale price to reflect the true sale price? Should we ask for a formal hearing?

Thanks in advance for any reply!
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Old 06-04-2009, 03:43 PM
Location: Hougary, Texberta
3,981 posts, read 6,461,965 times
Reputation: 4804
The true sale price is the price on the purchase agreement.

Concessions are a part of the negotiation, not part of the final price. The concession was given so that previous purchasers can't/won't come back on a builder selling the same home they bought for $8K less. Doesn't look good as an investment, dontcha know?

I mean how would you feel if six months from now somebody bought your exact same house for 20K less than you did? We'll just put that concession/incentive in the purchase, but the "price" stays the same as it always has.
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Old 06-05-2009, 12:13 PM
Location: League City
4 posts, read 33,451 times
Reputation: 17
You won't gain much traction with your concessions argument. Best to wait until next year and have a realtor give you a comparative market analysis for homes sold in your area. Current market value, not sales price, is your best strategy in contesting county appraisals.
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