Quote:
Originally Posted by MRM
Either way, paying more than an appraised value is over-paying for the property based on fair market value. Is it worth more to you than anyone else in the world? Fine.
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pretty much anytime someone buys a house, it's because they value it higher than
everyone else. Think about an auction where 25 buyers bid, and one guy gets the item... that one guy saw more value than the other 24... does that mean he overpaid?
I just sold a house this week that had an appraisal of 205k. I had three offers north of 215. Are all three buyers "wrong"?