Home › Forums › Closed Forums › Buying and Selling RE › Appraisal Question–Bugs you there?
- This topic has 8 replies, 3 voices, and was last updated 17 years, 2 months ago by Bugs.
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October 17, 2007 at 3:39 PM #10655October 17, 2007 at 6:19 PM #89762BugsParticipant
So, my questions are:
1) Should the appraiser be considering disclosures in their assessment of the property?2) Bugs, if I need an appraiser in the next few months can you do it?
The answers here are:
1) Yes, an appraiser is supposed to consider whatever information they come across regardless of its source; and to the extent that it would affect the value those items are worth noting in the report and considering in the valuation itself. Sometimes we’re given information that’s basically irrelevant – that type of information doesn’t always make it into a report. Other times we’re given information that may have some bearing on marketability but not the value itself; that type of information might make it in the report even if we don’t do anything else with it. It all depends on the situation.
2) Sorry, but I don’t think it would be appropriate for me to accept a paying assignment off of this board. There are a couple reasons for this, one of them being I’d like to avoid mixing my business interests with my participation on this board.
But there are other reasons, too. Banking regulations prohibit a lender from using an appraisal wherein the appraiser was selected or engaged by any party other than the regulated institution or its agent.
I do appreciate the thought, though. If you do get an appraisal and you want to get an opinion on how good the work is or you want a second opinion that’s something I’d do for another Pigg gratis.
October 17, 2007 at 6:19 PM #89770BugsParticipantSo, my questions are:
1) Should the appraiser be considering disclosures in their assessment of the property?2) Bugs, if I need an appraiser in the next few months can you do it?
The answers here are:
1) Yes, an appraiser is supposed to consider whatever information they come across regardless of its source; and to the extent that it would affect the value those items are worth noting in the report and considering in the valuation itself. Sometimes we’re given information that’s basically irrelevant – that type of information doesn’t always make it into a report. Other times we’re given information that may have some bearing on marketability but not the value itself; that type of information might make it in the report even if we don’t do anything else with it. It all depends on the situation.
2) Sorry, but I don’t think it would be appropriate for me to accept a paying assignment off of this board. There are a couple reasons for this, one of them being I’d like to avoid mixing my business interests with my participation on this board.
But there are other reasons, too. Banking regulations prohibit a lender from using an appraisal wherein the appraiser was selected or engaged by any party other than the regulated institution or its agent.
I do appreciate the thought, though. If you do get an appraisal and you want to get an opinion on how good the work is or you want a second opinion that’s something I’d do for another Pigg gratis.
October 17, 2007 at 8:04 PM #89776RicechexParticipantThanks Bugs. I appreciate your boundaries in this matter. Just to let you know….this would not be an appraisal for a bank. It would only to be to establish a price, so I can make a buy out offer to the co-owner.
Any chance you could make a referral to a decent appraiser? The lady we had did not do a very good job, and I was suspect of her by her attitude and indifference. I hate to cold call on this one…..
October 17, 2007 at 8:04 PM #89785RicechexParticipantThanks Bugs. I appreciate your boundaries in this matter. Just to let you know….this would not be an appraisal for a bank. It would only to be to establish a price, so I can make a buy out offer to the co-owner.
Any chance you could make a referral to a decent appraiser? The lady we had did not do a very good job, and I was suspect of her by her attitude and indifference. I hate to cold call on this one…..
October 17, 2007 at 9:44 PM #89802sdduuuudeParticipantHere is a sure-fire fair way to resolve dissolving partnership issues:
Step 1: Flip a Coin and determine a “winner” of the coin flip. (any game of chance will do).
Step 2:
The person who loses the coin flip must choose a price for the house.Step 1:
The person who wins the coin flip decides if they wish to buy or sell at the price set by the person who lost the coin flip.October 17, 2007 at 9:44 PM #89811sdduuuudeParticipantHere is a sure-fire fair way to resolve dissolving partnership issues:
Step 1: Flip a Coin and determine a “winner” of the coin flip. (any game of chance will do).
Step 2:
The person who loses the coin flip must choose a price for the house.Step 1:
The person who wins the coin flip decides if they wish to buy or sell at the price set by the person who lost the coin flip.October 17, 2007 at 10:35 PM #89819BugsParticipantIf and when you’re ready to get an appraisal just lemme know and I’ll send you a couple names to choose from. I know a lot of appraisers and among those appraisers I know some really great appraisers.
October 17, 2007 at 10:35 PM #89826BugsParticipantIf and when you’re ready to get an appraisal just lemme know and I’ll send you a couple names to choose from. I know a lot of appraisers and among those appraisers I know some really great appraisers.
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