Posted by Kristine-CA on August 09, 2007 at 14:53:51:
Always do your own assessment of value first. Always.
There is a very good article by JP Vaughn in the article section on this site
about analyzing comp and determining value. JP gives very clear and easy
directions.
Can you do your own appraisal? - Posted by Michael
Posted by Michael on August 09, 2007 at 11:39:17:
Can an investor that has gone through correspondence school do their own appraisal and home inspection on a property they wish to buy?
Not sure of the legality of it…
Michael
Re: Can you do your own appraisal? - Posted by Kristine-CA
Posted by Kristine-CA on August 09, 2007 at 14:04:48:
Of course you can do your own appraisal. But what lender would
accept it?
Appraisals are for your benefit in order to assess value or when a
lender requires it to assess value of collateral. If you were going to
lend money on a house, would you let the seller set the value and
accept an appraisal the seller put together confirming that value?
Re: Can you do your own appraisal? - Posted by Michael
Posted by Michael on August 09, 2007 at 14:45:43:
But it could still be good for learning the process adn market values and pricing, right? And thank you for the honest and blatantly obvious response that I should have known, LOL!
In the words of Homer Simpson…“Doh!”
Michael