Tip: Getting an "appraisal" on your home for MERP free of charge.

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I found out from the MERP office in our state (Michigan) that you can use a CMA from a real estate agent to submit to the MERP office in lieu of a paid appraisal from a licensed appraiser. The quotes for appraisals I received were all around $400 - crazy. The CMA from a real estate agent is free - they can't charge, because they're not licensed appraisers.

Just thought I'd toss that out here in case anyone else needs it! :-)


Finally something goes your way !!
When my Dad was going to sell his house "as is", I hired a professional licensed Appraiser as I wanted an accurate opinion of the value of the house.

I've been in the real estate profession for decades, and I have seen my fair share of Agents who over-price the house just to get the Listing. I wonder how it works if Agent has the market value set high, but when the time comes to sell the house, and the Buyer's mortgage company hires a license Appraiser who set the value at the normal price.... who pays the difference to MERP, or is that the chance MERP takes? Just curious.
You know, I don't know, FF. I let the real estate agent know that I'm not selling at this point - that this is ONLY for MERP. So if he thinks he's getting a listing anytime soon, he's wrong. I'm going to make double sure he knows it when he shows up, too.
Susan, you are so lucky to have found a real estate Agent willing to do a market value on your Mom's house. Hopefully when the time does come to sell the house, you give that Agent a call :)

FF - that's definitely my intention - I'm going to let him know if he treats me right and does an HONEST market value, not marking it up, and taking into account all the things that are wrong with it - then I'll definitely talk to him when it comes time to sell it.
Did the MERP issue resolve itself yet?
Hope things are going okay for you.
Hi Send. Nope. Still in a holding pattern

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