Appraising A Property Being Used For Illicit Purposes

[Roborob]

The heading describes the issue-
When you discover a property being appraised is being used for openly illicit purposes, is it sufficient to just disclose? I am assuming I need to value it per the legal H/BU...

Would anyone do more than disclose the illicit use?

Just curious

 

[CANative]

***** house? Bomb making? Pot growing?

 

[Pittsburgh Pete]

***** house? Bomb making? Pot growing?

Operating an AMC........?

 

[miktay]

Call the cops.

 

[Michigan CG]

Operating an AMC........?

I was thinking maybe prostitution but using the home to operate an AMC would be far worse than prostitution. When the prostitute takes $100 from you you get a "service". When AMCs take $100 from you you get nothing but added work.

 

[bnmappraisal]

Operating an AMC........?

this made me LOL Pete. Thanks!

 

[J Grant]

what is the illicit use?

You may want to discuss with client before proceeding, particularity if it is a refinance, which means use is likely to continue.
There are certain criminal enterprises particularly involving drugs that can mean DEA or other law enforcement possible seizure of the property, or drug production such as meth lab creating chemicals that can be a health and safety issue.

 

[Lost Cause]

The heading describes the issue-
When you discover a property being appraised is being used for openly illicit purposes, is it sufficient to just disclose? I am assuming I need to value it per the legal H/BU...

Would anyone do more than disclose the illicit use?

Just curious

The question is ambiguous. What do you mean by "illicit use"? And what do you mean by "openly"?

For example, an illicit use could be understood to mean something criminal or something unpermitted or anything in between.

 

[bnmappraisal]

The question is ambiguous. What do you mean by "illicit use"? And what do you mean by "openly"?

For example, an illicit use could be understood to mean something criminal or something unpermitted or anything in between.

I just re read the OP - I think you're right Lost. Is the OP asking for b/c of criminal activity witnessed at a property? Or "illicit use" meaning unpermitted.

I'm leaning toward the unpermitted after re-reading it b/c of the whole HBU question. What difference would HBU have on a meth lab vs a brothel?

 

[Terrel L. Shields]

Well... I know if you have a still in Arkansas you can bet busted. But if you have a still in Missouri you can make up to 200 gal. for your own use... Make sure it is really "illicit" ...

Personally I might decline the assignment.