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re: Calling all real estate appraisers!
Posted on 4/10/17 at 7:46 pm to LSUFanHouston
Posted on 4/10/17 at 7:46 pm to LSUFanHouston
quote:
Did they even go out to the property?
Yes they did. They had no reason to doubt the validity of the .42 acre. That's the number it was at the time of the appraisal. I don't think they "missed" anything. I think the number changed after the appraisal.
Can any real estate appraisers answer the question in the OP?
Posted on 4/10/17 at 8:34 pm to OMapologist
quote:
Can any real estate appraisers answer the question in the OP?
I'm a commercial appraiser and the question to this is no, we can't answer the question. It really just depends. You may find another appraiser who accounts for the extra land in a building to land adjustment but he may also say your house is worth less on a $/SF basis, which may counteract the building-to-land adjustment. You may find an appraiser who accounts for it and says your house is worth more on a $/SF basis and thinks your house is worth significantly more than the original appraisal.
In defense of the appraiser who originally did the appraisal, generally we're just relying on whatever information is available. Should he have been able to tell based on relation between your house size vs. lot size? Yes. However, appraisers often get confused for things they are not: land surveyors, home inspectors, foresters, etc.
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