I am purchasing a property from a friend at 50K less than he could sell it for on the MLS.I am giving him a big reduction on my house for sale at the same time.How much weight to appraisers put on the purchase price?It always seems go come in close to the sale that is in progress?But l do not want the fact that I am getting it at a reduced price to affect the appraised value in the future?
Of course l want the purchase to be of lesser value, butat the same time l do not wanna drag down comparables...Very good info so far!

Appraisals are based on the perceived value of the property, and as such rely on the sale prices of all similar homes in the area. What you are suggesting will result in lower appraisals for your own and other homes in the area. Not a lot probably, but some.

Appraiser look at semilar homes sold in recent times in the same area, condition of the house & other extras (such as remodeled kitchen & bathroom, etc.) to determine the appraised value. There could be some difference between one appraiser from the other but overall a competent appraiser value the house appropriately. Although it is not the final & concrete price on the property, it becomes a guideline in pricing ur property for sale or purchase. Since property values change, the appraising the property would be required each time u want to buy/sell a real estate now or in the future. Thus ur property will be appraised accordingly in the future regardless of how much u had paid now.
When u register ur purchased property at reduced price for title transfer & for tax purposes, the reduced purchase price goes on the county record, not the appraised value. Based on the purchase price, u pay property tax & insurance. The less u had paid for the property, less ur tax & insurance, which is an advantage.

Since the real estate market has been and continues to be in flux, values are a moving target. Rules for appraisers are changing as we speak.

What is the purpose of the appraisal? Getting a new loan? Peace of mind? Why do you think you need one? Whatever the purpose, just make the sale/exchange contingent upon the properties appraising at the agreed prices and you should be fine.