Appraised Value Below Contract Price

[CANative]

I thinks some State Boards might disagree. There may be an example on here somewhere.

Please feel free to post ONE.

 

[J Grant]

Nancy, do you ever get teased about your last name as an appraiser? ):

 

[David Mescon]

Over 200 posts, in such a short period of time, about minutae. And you guys think that "the rules" are beneficial? When we spend more time squabbling over relatively insignificant aspects of USCRAP and GSE guidelines than about core appraisal issues, it could be an indication that we're overregulated - no? All this for a chance at a Pyrrhic victory, at best.

I had a roommate from Iran when I was in college. His family (barely) escaped when the shah was deposed. They were very wealthy, successful businessmen and all were well educated with multiple degrees in the sciences. One day, while on break, while visiting at his home, his two older brothers began arguing - over the weather. The argument became increasingly heated. They were shouting at each other, and almost came to blows. Over the weather. This incredibly immature mindset pervades most middle eastern cultures. The problem, (in its most simplistic and basic underlying form), is that they use their intellect to avoid dealing with their feelings. They do this because they are afraid to feel their feelings - mostly shame, (i.e., they are scared to death to accept the reality that they feel like less than peeled zeros on the inside, and rather than deal with this and work through it, they spend most or all of their lives running away from it). This is what's happening here. Grow up and deal with it - if you dare.

 

[Pittsburgh Pete]

Your argument that sale "price" analysis is required has not been supported.

No confusion there. So you say you are a titigator?

Are you a poor speller/proofreader or are you making some sort of sophomoric breast joke?

I'll type this slowly so that you might follow more closely. Attornies are litigators (buy a dictionary--it will have the definition of litigator as well as the definition of analyze). I appear as an expert witness in litigation. Got it?

You are to analyze the SC--analyze means to look at the constituent parts of that contract. Agreed upon sales price is the most significant aspect of a SC. So you figure it out. Why didn't USPAP just state that the appraiser is to regurgitate the content of the sales contract? If one is clueless it is impossible to be confused.

 

[CANative]

Why didn't USPAP just state that the appraiser is to regurgitate the content of the sales contract?

Why doesn't USPAP just state that the appraiser must comment or explain whenever there is a difference between price and value?

 

[mark hurlock]

it could be an indication that we're overregulated - .

I think it is an indication why USPAP is written the way it is.

JMO

 

[mark hurlock]

Why doesn't USPAP just state that the appraiser must comment or explain whenever there is a difference between price and value?

Because price is not a factor.

 

[CANative]

I'll type this slowly so that you might follow more closely. Attornies are litigators (buy a dictionary--it will have the definition of litigator as well as the definition of analyze). I appear as an expert witness in litigation. Got it?

lit·i·gate (lt-gt)
v. lit·i·gat·ed, lit·i·gat·ing, lit·i·gates
v.tr.
To contest in legal proceedings.

What am I when I stand up by myself in front of a court composed of three appointed assessment appeals board members and argue my clients case versus the County Assessor's case?

It's kind of the same as being a litigator ("To contest in legal proceedings.") In fact it IS the same except I'm not an attorney (nor an appraiser for these purposes.)

 

[Fritz in NY]

Just eliminate that we need to "analyze" the SC. It's giving us a number to hit. Why even provide us with a contract? We're determining the current market value of a property....period. Not why it was sold, how it was sold, What It's Worth.
BTW the VA Tidewater initiative works and saves time and arguments beween Realtors and Appraiser (even though the comps realtors provide are sometimes usless)

 

[Michigan CG]

Because price is not a factor.

Really? That is new to me.