Condo listed for 315,000. $40,000 in upgrades (which we did not expect to recoup.). 2 offers in two days (with only 2 people coming through) for full asking price. Bottom line sold for 315 not having to pay closing costs.
Appraisal done. I thought - knowing the comps that we might get $307 to $310.
It came in at $305,000
5 Comps. 288,000 no balcony) July, 252,000 (duress) July, 299,000 (no balcony) June, 298,000 (tiny 40 sq ft. balcony/front parking lot view) for sale and 245,000 Back shared balcony short sale for sale.
All but the short sale are 1252 to 1258 sq. foot and ours is 1288. The short sale is 1277.
2 have no balconies. 1 is a tiny 40 sq foot balcony. One is equal in size to ours but is on a corner where their back porch faces a line of back porches of other condos. Ours is 118 sq foot corner w. no view of utility poles or other homes and lots of grass and woods. One is equal size but shares a wall on the porch with another condo
There were solds in May but he didn't use these which I understand. In our same community just a few doors down (same street name and a stones throw away) are 'garage condos'. One sold 8/31/09 for $312,500 It's 1242 sq feet w/88 sq ft. patio - Not as big as ours but I felt this one should be subbed for the non-balcony condos.
I can handle honest feedback. Is it worth contesting this since he didn't consider the balcony vs lack of any balcony as well as the tiny front one that faces the parking lot?
Thanks in advance.
Appraisal done. I thought - knowing the comps that we might get $307 to $310.
It came in at $305,000
5 Comps. 288,000 no balcony) July, 252,000 (duress) July, 299,000 (no balcony) June, 298,000 (tiny 40 sq ft. balcony/front parking lot view) for sale and 245,000 Back shared balcony short sale for sale.
All but the short sale are 1252 to 1258 sq. foot and ours is 1288. The short sale is 1277.
2 have no balconies. 1 is a tiny 40 sq foot balcony. One is equal in size to ours but is on a corner where their back porch faces a line of back porches of other condos. Ours is 118 sq foot corner w. no view of utility poles or other homes and lots of grass and woods. One is equal size but shares a wall on the porch with another condo
There were solds in May but he didn't use these which I understand. In our same community just a few doors down (same street name and a stones throw away) are 'garage condos'. One sold 8/31/09 for $312,500 It's 1242 sq feet w/88 sq ft. patio - Not as big as ours but I felt this one should be subbed for the non-balcony condos.
I can handle honest feedback. Is it worth contesting this since he didn't consider the balcony vs lack of any balcony as well as the tiny front one that faces the parking lot?
Thanks in advance.