Comp burned down

[Brockway]

The client didn't like the comp and MADE you replace it? So you realize that report was no longer your report and your value was not arrived at independently, right? Did you change your certification to say that the value was arrived at with full client direction as to which sales should or should not be used?

My value was arrived at independently and did not change when I replaced the comp. This was also approximately 15 years ago when I was working for a large appraisal firm who made us kiss up to the clients and honor all such requests, even if they were unreasonable. I don't give in so easily these days.

 

[Joyce Potts]

The market dictates the price, not the seller. If the dwelling does not contribute to value, say the 1,000 sq.ft. ranch in a neighborhood of 7,500+ sq.ft. homes, buyers are not going to pay extra because there is a house on it. In fact, in NY, the house often bulldozed just prior to the transfer to avoid the mansion tax (paid on improved, but not on vacant, properties selling for > $1,000,000).

That was my point, David.

 

[EVAUSA]

Yes you can. I'd use an MLS pic and comment as to why.

 

[casurf2020]

Thank you for all of your replies, I will check to make sure that it was donated to the fire department or anything like that. THe MLS listing stated that it had been totally remodeled, so it would be a shame for that to happen. Yes, I did check to make sure that I had the correct street, I could tell it was the same house as the chimney was still standing and the front patio steps were still there.....these are homes on acerage, in a rural area where most are manufactured homes. There had been only 8 sales in the whole 36 mile radius that was not a manuf home, so we really needed that comp. Thanks again......

 

[casurf2020]

I meant that I would check to make sure that the home had NOT been donated to the fire department....sorry, still getting used to posting on these boards, it didn't let me review my posting before I submitted, sorry for that typo.

 

[Joyce Potts]

The market dictates the price, not the seller. If the dwelling does not contribute to value, say the 1,000 sq.ft. ranch in a neighborhood of 7,500+ sq.ft. homes, buyers are not going to pay extra because there is a house on it. In fact, in NY, the house often bulldozed just prior to the transfer to avoid the mansion tax (paid on improved, but not on vacant, properties selling for > $1,000,000).

Sorry, I thought the seller was a major part of the market. Go back and read the post within the context that a seller is probably not going to accept more or less depending the end user's objectives.

I think we're splitting hairs here.

 

[Rufus]

<snip> ....sorry, still getting used to posting on these boards, it didn't let me review my posting before I submitted, sorry for that typo.

Not a problem, I was able to read what you meant from the context and then, of course, in your correction.

Are you using 'Post Quick Reply'? If so, use use the bigger 'Post Reply' button to the left just under the last message, or the 'Quote' button under any given message, or the 'Go Advanced' button under the 'Quick Reply' box and then there will be two choices of 'Submit Reply' and 'Preview Post'. Also, if you notice a typo right after posting, there is also an 'Edit' button for your post.

 

[Lobo Fan]

What happens to a comp after the closing date is really irrelavent to being used as a comp. I pulled up to take a comp photo once and the house was still smoldering and the firetucks stil on site. In another instance, they added a second story and a two car garage since it closed. (That took some explaining). I included the MLS photo to prove that it was as described in my report.