Real Estate Market Analysis???

[Wish Upon A Star]

Just wondering if we are obligated to selling our home if I called an agent and asked to get a market analysis.

We might put our house on the market depending on its value. I just don't want to be obligated into selling it with an agent if its valued lower than we think.

 

[Lewski709]

No, you are not. Be advised, a market anyalysis is not always accurate to compare the value of your home to others. You would need an appraisal for more accuracy.

 

[Wish Upon A Star]

Would the appraisal from the bank be a more accurate number?

We had refinanced early last year and the bank came out and did an appraisal that I was pretty pleased by.

 

[LindaR]

I used to be a mortgage loan officer..........sometimes, SOMETIMES, a refi appraisal will give the house a higher value than a sales appraisal, but not by much.

A market analysis will compare your home to several recent sales. Keep in mind that the houses compared will be similar (square footage, rooms, amenities, etc) so that you are comparing apples with apples, so to speak.

Hope this helps!

 

[tar heel]

You definitely do not have to sell with an agent that does a market analysis for you. As a matter of fact, you really should have three or so agents do market analyses. It's a good way to get to know them and get a feel for how they work.

 

[Tina]

You are not obligated unless you sign a contract with the realtor. If you should decide to sell and sign with someone, do NOT sign for more than 90 days. You can always renew if the house hadn't sold - or you can go to another realtor if this one doesn't get the job done right.

 

[Talking Hands]

Absolutely not obligated unless you actaully sign a contract to list the property.