Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > California > Sacramento
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 12-01-2020, 06:52 PM
 
209 posts, read 199,556 times
Reputation: 174

Advertisements

So lender is willing to waive appraisal on home purchase. Would you still pay to have an independent one done and why or why not?
Reply With Quote Quick reply to this message

 
Old 12-01-2020, 11:30 PM
 
Location: Living rent free in your head
42,783 posts, read 26,093,782 times
Reputation: 33927
Quote:
Originally Posted by sacguy71 View Post
So lender is willing to waive appraisal on home purchase. Would you still pay to have an independent one done and why or why not?
If your realtor has shown you comps then I don't see a reason to get an appraisal, who was going to pay for it, you or the seller?
Reply With Quote Quick reply to this message
 
Old 12-02-2020, 08:47 AM
 
8,742 posts, read 12,909,188 times
Reputation: 10524
Quote:
Originally Posted by sacguy71 View Post
So lender is willing to waive appraisal on home purchase. Would you still pay to have an independent one done and why or why not?
No need. Save your $500
Reply With Quote Quick reply to this message
 
Old 12-02-2020, 09:31 AM
 
209 posts, read 199,556 times
Reputation: 174
Thanks! The market comps reflect home price and inspections way more important.
Reply With Quote Quick reply to this message
 
Old 12-02-2020, 09:36 AM
 
276 posts, read 363,458 times
Reputation: 392
The only reason I could see to get one is if your purchase price is higher than market - which could occur if there was a bidding war. Your base Prop 13 property taxes will be based on your purchase price unless there is evidence that the value is lower.
Reply With Quote Quick reply to this message
 
Old 12-02-2020, 10:48 PM
 
209 posts, read 199,556 times
Reputation: 174
Agree and had home inspections done. Hopefully seller will credit back costs for major items that need repair like plumbing issues uncovered.
Reply With Quote Quick reply to this message
 
Old 12-02-2020, 11:31 PM
 
Location: Riverside Ca
22,146 posts, read 33,387,997 times
Reputation: 35433
Quote:
Originally Posted by sacguy71 View Post
So lender is willing to waive appraisal on home purchase. Would you still pay to have an independent one done and why or why not?
What for? A appraisal is just a feel good number. When I did a refi they didn’t appraise it.
Reply With Quote Quick reply to this message
 
Old 12-03-2020, 07:36 AM
 
209 posts, read 199,556 times
Reputation: 174
Yes good to know all this as new home buyer. Anyways, I need to now negotiate with seller on credit toward repair costs for the major issues discovered by home inspection for plumbing and pool repairs. Ball park estimate is 10-20k in repair costs to fix the plumbing issues in the home and pool repairs.
Reply With Quote Quick reply to this message
 
Old 12-03-2020, 10:12 AM
 
Location: East TN
11,046 posts, read 9,686,505 times
Reputation: 40288
Get your own contractors to come out and give you an estimate on those repairs. 10-20K is a pretty wide range. Try to get that pinned down to a more exact number. Maybe get more than one estimate. Then use that for your negotiations.
Reply With Quote Quick reply to this message
 
Old 12-03-2020, 01:34 PM
 
209 posts, read 199,556 times
Reputation: 174
That is the plan :-) and contacted a few
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > California > Sacramento

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top