Landlocked in Tennessee

[Couch Potato]

If the property is landlocked, how did you get to it?

What does the owner say about access?

If there is clear indication of an access agreement, or easement, indicate it in the report. If you cannot find a clear agreement on which you would bet your own money, use an extraordinary assumption to value the property after clearing its use with your client.

No, you don't need a deed that shows an easement, you can use the Hypothetical Condition that there is an easement. Talk to your client on how to proceed.

Using a hypothetical condition would indicate you knew no means of access exists. That would only be appropriate if there is no way for the appraiser to get to the property IMHO.

 

[Stone]

Have all of the resident AP "advisors" forgotten that there is a title insurance company involved in the transaction? What's with this penchant to practice lawyering, title work, surveying in order to do an appraisal? And that on top of the b**ching about fee. Put the onus on title matters on where it should lie - the title company that gets paid an exhorbitant fee for sitting in its assets and doing virtually nothing except hitting the PRINT key in its software.

I take it you don't think it is an appraiser's job to understand any access issues involved with a property. How is an appraiser supposed to understand a tract if he/she doesn't know how it is accessed?

 

[Debra]

I left a message for the lender that it appears from the tax map that the property is landlocked and there is nothing on the deed about this situation. I'm waiting for him to call back and for the COD ho to call back from the message that I left them early this morning. If the ho calls first, should I just go ahead to the property tomorrow if possible and deal with the access situation afterwards???

 

[AJL118]

Quote: I take it you don't think it is an appraiser's job to understand any access issues involved with a property. How is an appraiser supposed to understand a tract if he/she doesn't know how it is accessed? Unquote.

My contention is that an appraiser's job should not involve doing someone else's job in order to do his/her job for a lousy 350 Washingtons. I can't be more succinct than that.

 

[PropertyEconomics]

Quote: I take it you don't think it is an appraiser's job to understand any access issues involved with a property. How is an appraiser supposed to understand a tract if he/she doesn't know how it is accessed? Unquote.

My contention is that an appraiser's job should not involve doing someone else's job in order to do his/her job for a lousy 350 Washingtons. I can't be more succinct than that.

I hope your life is much more successful than a "lousy 350 Washingtons" .. others have to work for a living. Exactly how well do you understand appraisals anyway?

 

[AJL118]

Quote: I hope your life is much more successful than a "lousy 350 Washingtons" .. others have to work for a living. Exactly how well do you understand appraisals anyway?
-Unquote

I am retired and don't have to work. I spent 40 years in real estate, including sales, finance, mortgage finance, development, construction, and in my last working years, running the business side of an appraisal company. Do your sniping on someone else. You are not qualified to duel with me.

 

[PropertyEconomics]

Quote: I hope your life is much more successful than a "lousy 350 Washingtons" .. others have to work for a living. Exactly how well do you understand appraisals anyway?
-Unquote

I am retired and don't have to work. I spent 40 years in real estate, including sales, finance, mortgage finance, development, construction, and in my last working years, running the business side of an appraisal company. Do your sniping on someone else. You are not qualified to duel with me.

Of course Im qualified to duel with you ... because frankly you dont much understand an appraisers job if you dont think that access is an issue. Highest and best use must be developed and is the basis for all valuation. Without knowing whether the property has legal access an appraisal will be suspect and perhaps even misleading with respect to it being properly developed.

While I admire your work history ... you are not better than anyone else on this forum. I suggest you not call anyone out to DUEL ... but I do wish you a peaceful retirement.

 

[Stone]

Quote: I take it you don't think it is an appraiser's job to understand any access issues involved with a property. How is an appraiser supposed to understand a tract if he/she doesn't know how it is accessed? Unquote.

My contention is that an appraiser's job should not involve doing someone else's job in order to do his/her job for a lousy 350 Washingtons. I can't be more succinct than that.

I guess I thought it was my job to provide an opinion of value on property. It is kind of hard to do that without knowing if there is legal access. Seems to me to be a pretty important part of the appraisal problem. But, maybe that is just me.

No matter the fee.

 

[PropertyEconomics]

I guess I thought it was my job to provide an opinion of value on property. It is kind of hard to do that without knowing if there is legal access. Seems to me to be a pretty important part of the appraisal problem. But, maybe that is just me.

No matter the fee.

I think what Stone is saying is:

You dont boogie woogie the king of rock n roll !!

 

[AJL118]

PE - After your pontificating, I may note that you are not better than anyone else on this forum. I am surprised that you as a "successful" CGA would engage in a jousting match with someone as lowly as me. Seems to me you would have something better to do like chlorinate the pool.