I ran across a property that is For Sale By Owner. Got one of the info papers on it and for the asking price it states to make an offer. With that said... I called the owner to go over things with him. Come to find out, he does have an asking price and doesn't want to work out much of a deal on it.
Now, from his asking price and the tax assessor valued amount, there is a huge difference.
So my question is... how accurate is the tax assessor value compared to an appraisal? Meaning, where or how does the County Assessor get their amounts?
Hope I clearly worded that question...
Thanks for any input! :)
@Samantha Lotti In my area (PA), the tax assessors valued amount is lower than what you'd get during a more recent appraisal for financing. From what I've learned, it's best to get comps from similar properties sold recently so you know if you're getting a good deal or not.
@Brendon Weaver Thanks for responding to my post. I did do some research and came up with the same answer you gave. :)