J. Scott Harris – MortgageXperts.com

Call us 1st to AVOID mortgage problems, Call us 2nd to SOLVE them! We close loans every day that Banks would not, or could not approve. NMLS # 375517 – Mobile 214-435-8825

J. Scott Harris – MortgageXperts.com - Call us 1st to AVOID mortgage problems, Call us 2nd to SOLVE them!  We close loans every day that Banks would not, or could not approve. NMLS # 375517  – Mobile 214-435-8825

First time buyer – Question on Home Values

We are in the market to purchasing a new home and liked a home that has been remodeled.  I have a friend who told us that no matter if a seller has done a remodeling of the home the value of the house will not affect the value of the property that is listed on the county’s appraisal website.  Does this mean that the house that is remodeled is not more than $84,000 and we make an offer that amount?  Any feedback and help would greatly be appreciated.

ANSWER

The only true value of a home is what a willing buyer and a willing seller will pay.  Lenders & Realtors use comparable sales within the last 6 months to estimate a value of a home.

Once a buyer and seller have agreed on a price, the lender will order an appraisal to verify the price is supported with verified sales in order for the mortgage to be approved.

Generally, the TAX value lags in a rising market and never goes down in a declining market.. (sarcastic tax joke)
YOU CAN BUY A HOME, CALL US AND TAKE THE RIGHT STEPS.

Click Here to start your quick Free Credit Analysis & Pre-Qualify Now!

scott-circle
J. SCOTT HARRIS | DIVISION VICE PRESIDENT & BRANCH MANAGER
NMLS ID# 375517 (www.nmlsconsumeraccess.org)
(M) 214.435.8825 | (F) 866.343.3688
jharris@goldfinancial.com  www.goldfinancial.com  | Pre-Qualify Now

LinkedIn  |  Facebook  |  Twitter  |  JSH BLOG – News & Articles www.MortgageXperts.com

GoldEmailLOGO

885 E Collins Blvd Ste 110
Richardson, TX 75081

My Branch Closes FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana

Gold Financial Services is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

J. Scott Harris is a Nationally Recognized Mortgage & Social Media Authority.

nmp-top-50-logo

Category: Mortgage News
Tag: