Appraisals will vary depending on the lender. There is no exact formula to find out how much the banks/lenders think your house is worth
It’s funny where I live now banks are complaining that appraisers aren’t giving homes a high enough value.
People can over offer but it doesn’t mean shit when the lender appraises for a lot less.
It’s really not about high offers, its more about your earnest money and if you have a contingency
Correct, the algorithm is designed to draw you in and contact their preferred realtors.
It’s inaccurate marketing tool
They are typically on the high end. Not something to be used to set expectations for yourself.
I am given a range on Zillow that is a difference of about $50k. I’m guessing the low end is closest to accurate.
if you really wanna find out get a redbell account and run the comps.
Had the appraisal done yesterday. Still awaiting results. Guy was pretty nice. He explained the process to me a bit more, and said I’d have results by early next week at the latest.