Real Estate Appraisal Forum

appraisersforum.com logo
The Premiere Online Community for Real Estate Appraisers!
 Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
 
 
Go Back   Appraisers Forum > Real Estate Appraisal Forums > General Appraisal Discussion
Register Help Our Rules Calendar Archives Mark Forums Read


Closed Thread
 
Thread Tools
  #1  
Old 07-30-2005, 09:25 PM
S. B. Carter S. B. Carter is offline
 
Join Date: Aug 2004
Location: Virginia

Posts: 44
Default

Just wanted to know if any of you forumites out there have appraised a home for an auction company? If so, would you mind sharing your experience? Pro or con? Thanks!

Sterling
Sponsored Links

  #2  
Old 07-31-2005, 01:20 PM
leelansford leelansford is offline
 
Join Date: Mar 2002
State: Illinois
Professional Status: Certified Residential Appraiser
Posts: 13,646
Default

S.B.,


Are they asking you for an opinion of market value?

What is the USE of the appraisal?

Who--or, what--is/are the INTENDED USER(S)?


Lee
__________________
Lee Lansford, IFA
"My opinions & my opinions only!"
  #3  
Old 07-31-2005, 01:46 PM
S. B. Carter S. B. Carter is offline
 
Join Date: Aug 2004
Location: Virginia

Posts: 44
Default

Lee,

I have not had an assignment to do an appraisal for an auction company, however, I had entertained the idea of marketing my services to one as a way to diversify from mainly performing lender work. There has been a noticeable increase in this type of activity in my area here in Va. as of late, for the sale of residential property. It has become somewhat popular to dispense w/ the usual FSBO or commissioned realtor sale to sell some residential property. Some homeowners or members of an estate have been auctioning off their real property rather than through normal sales techniques.

Perhaps, I am way out of my league on this one. I had thought that the auction co. might want to know the appraised value of the property prior to the auctioning of the property. So I would presume either the homeowner/family or auction house would be the client and the use would be to set market value for the property to help in aiding the client(s) to set a value.

As I said, I may be way off base w/ this idea. If so, please set me straight! Thanks so much.
S.B. :eyecrazy:
  #4  
Old 07-31-2005, 01:56 PM
leelansford leelansford is offline
 
Join Date: Mar 2002
State: Illinois
Professional Status: Certified Residential Appraiser
Posts: 13,646
Default

There may be a market for your services.

I never had previously given thought to auctioneers as potential clients.

What can it hurt to make some inquiries?

Good luck.
__________________
Lee Lansford, IFA
"My opinions & my opinions only!"
  #5  
Old 08-01-2005, 09:08 AM
Joker's Avatar
Joker Joker is offline
 
Join Date: May 2002
Location: Hicksville, Appalachia
State: Ohio
Professional Status: Certified General Appraiser
Posts: 6,070
Default

I have consulted with auctioneers prior to sale of properties for the very reason you are mentioning. However, in this area, the auctioneers tend to have a better handle on property values than other real estate agents. The consulting that I have done ususally centers around discussing comparable sales and the strength or weakness of the market. As a business decision of mine, I do not charge for this service. The auctioneers are friends of mine and they return the favor when I need a second opinion.
__________________
I don't need no stinkin' signature line.
  #6  
Old 08-01-2005, 10:25 AM
JTip's Avatar
JTip JTip is offline
 
Join Date: Oct 2004
Location: Central PA-Altoona-State College
State: Pennsylvania
Professional Status: Certified Residential Appraiser
Posts: 3,949
Default

My mentor appraised a farm 2 years ago for a local auction company. Funny thing was when the auction started, the announcer said "In my hand I have an appraisal valued at $xxx,xxx done by a local appraiser!!!". The crowd went "Oooohhhh!" My mentor, Dave, sunk in his seat when the guy said that. You heard the people murmuring, "That ain't worth that much" and "Who is this guy and where did he come up with that crazy number". The auction ended and the price was EXACTLY what it appraised at.

That was the last auction appraisal he would ever do...

ST
__________________
I are serious appraiser, this is serious thread.
Sponsored Links

Closed Thread


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump




Copyright © 2000-, AppraisersForum.com, All Rights Reserved
     Terms of Use  Privacy Policy
AppraisersForum.com is proudly hosted by the folks at AppraiserSites.com

Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
Partner Sites:
AppraiserUSA.com - National Appraiser Directory AllDomainsUSA.com - Domain Name Registration
DeadbeatListings.com - Deadbeat ListingsAppraiserSites.com - Web Hosting for the Professional Real Estate Appraiser
Find FHA Appraisers - FHA Appraiser Search Commercial Appraisers - Commercial Appraiser Search
Relocation Appraisal - Find Relocation Appraisers Domain Reseller - Business Opportunity
Home Security Buzz - Home Security Info Radon Testing - Radon Gas Info
My Medicare Forum - Medicare Info Stop Smoking Help - Help Quitting Smoking
CordlessPhoneStore.com - Great Cordless Phones AndroidTabletCity.com - Android Tablet Computers

Follow AppraisersForum.com:          Find us on Facebook            Follow us on Twitter


All times are GMT -5. The time now is 03:18 AM.

SiteMap: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93