Appraisal vs State Tax Assessor web site

[otite]

The journey to owning a home should be a movie.. Had to say that first.

My Application has been in underwriting since last tuesday per my LO. Monday he stated that he would be ordering the Appraisal that day but i still haven't seen the transaction post on my bank card. But i'm hopeful that he wasn't lying about that.

We are under contract for a Fannie Mae foreclousre. My question is- Should the appraised value from the state tax assessor web site and FHA Aprraiser be close in Amount? I worry that the property is going to come back lower than the asking price which will delay closing.

Thoughts?

[Anonymous]

It really depends on the area.

Most of the time the tax assessor numbers were lower in value in the good old days. Nowadays that is not always the case.

I have seen the Tax Assessed numbers be as high as 80K higher then appraised values in some areas. It is really crazy to pay tax on a home at those numbers.

[Jazzzy]

Those two numbers normally don't have anything to do with each other...at least not in our area.