As is Appraisal on partially constructed house(s)

[Lee Lansford]

...He says his use for these appraisals is for his own personal portfolio, so there apparently is no lender involved...
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Why do I believe that you are not receiving the full story?

As others have commented upon--and what you, too, are aware of--each assignment is much more complex than the norm. You will be spending a great deal of time and effort in order to complete the appraisals in a credible manner. I hope that the fee is worth it.

 

[Mike Boyd]

Definitely consider the fact that a potential purchaser will have to get a bank loan, get a second loan to finish it, have to deal with contractors to get it finished, have holding costs on both loans, then closing costs to refinance at the end of the deal. Finally, you'll have to discount for the hassle of dealing with all this.

If you're dealing with a probable investor purchase , figure 15-25% profit margin.

Cost to finish, holding and re-selling costs plus 50% for risk and profit. All should be deducted for the "as is" value.