How accurate is BCAD vs selling price? The home I am selling just got appraised for $150k through BCAD. I put it on the market 2 weeks ago (before I got the notice from BCAD) at 135 and had multiple offers reaching a sale price for $138.

Am I a sucker? The buyers are now asking for ~5k in repairs after the inspection.

What would you do?

God bless!

I would tell then you are not going to do the repairs due to the "deal" they are getting.

We sold 11 months ago for significantly higher than BCAD.

BrazosCad is historically lower. If it is higher, you should be contesting your appraisal to lower you taxes.

If BrazosCAD was $150, then you should have been listing at $160-$170 to leave some negotiating room and to be able to cover repairs.

Paid 285k for my place in December. Taxed at 317k for 2018. Plan on protesting with closing documents, appraisal, etc. Anyone with experience doing this?

Yes, but not here. When I sold to move here selling price was about 20+K less than the new appraisal. Was under contract with buyer. Took paperwork to appraisal district and it was immediately lowered. Reason, the house was 12 years old, but their computer program had it marked as "new" "pristine". With one click of a button on the program to drop it one level from "new" it spit out a value that equaled the selling price.

Did it save me money? F no. It did save my buyer, though.

Point of story: The appraisal process is extremely flawed and of course in favor of the taxing entity.

I could go on but I would probably get banned if I posted my unvarnished opinions.

A second word of advice, if you can use some other mean than your closing documents to lower the taxes, then do so. If you settle on using your documents, then you have set the floor. They will only go up from there.

Vinnie C said:

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Paid 285k for my place in December. Taxed at 317k for 2018. Plan on protesting with closing documents, appraisal, etc. Anyone with experience doing this?

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Yes. I've done it this way many times without any issues.

the4aces said:

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How accurate is BCAD vs selling price? The home I am selling just got appraised for $150k through BCAD. I put it on the market 2 weeks ago (before I got the notice from BCAD) at 135 and had multiple offers reaching a sale price for $138.

Am I a sucker? The buyers are now asking for ~5k in repairs after the inspection.

What would you do?

God bless!

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Did you get a realtor to give you a CMA (comparative market analysis)?

Typically the tax appraisal trails behind real market value so I hope you didn't get screwed!