Date of Death Valuations

[Anthem]

A land locked vacant lot, it only gets better. Well first off good luck finding a lender that would loan on it (not that they are looking for a loan, but just a comment on marketability) and yes Grey Boyd you just might be right.

 

[Rich Heyn]

I have received an order to do a date of death valuation and I need some help as to how to get started. Where do you get your information and comparables for dates prior to 1970?

Does Maryland allow licensed appraisers to accept complex assignments?

 

[Richard Carlsen]

$45/Hr hourly rate with 40 hour minimum fee up front. No upper limit. 6 months due date. If they do not agree to this, decline the offer and go fishing.

BTW, the amount of accuracy depends on the Intended Use. If the degree of accuracy is not absolutely critical, go to the newspapers archives and check out the open house ads for that prior. Add usually tell something about the property. Sure they are offerings but offerings become sales and from them you can get very close to the market value at that time.

And I agree with Rich: This is a complex assignment.

 

[Lawrence R.]

Any nearby paper mills?

They may have some records about parcels they bought for timber...you did say it was a parcel of woods, right? An older timber company or paper mill may have some records that would be helpful.

 

[tricia21631]

Thank you so much-some really great ideas, I was beginning to feel very lost...

 

[The Warrior Monk]

property is a landlocked parcel of woods

In that case, the appraisal fee might be higher than the property value.

How about donating the property to the IRS and calling it a day.

 

[PropertyEconomics]

$45/Hr hourly rate with 40 hour minimum fee up front. No upper limit. 6 months due date. If they do not agree to this, decline the offer and go fishing.

BTW, the amount of accuracy depends on the Intended Use. If the degree of accuracy is not absolutely critical, go to the newspapers archives and check out the open house ads for that prior. Add usually tell something about the property. Sure they are offerings but offerings become sales and from them you can get very close to the market value at that time.

And I agree with Rich: This is a complex assignment.

Richard .. how can an appraisal not have the need for critical accuracy? USPAP applies to estate appraisals doesnt it????

 

[The Warrior Monk]

There is no requirement for accurate, only credible.

 

[jeanwillick]

We have one going back to 1983 waiting in the wings and when the family gets their poop in a group they will order it.

We found a local Realtor who has all the comp books going waaaaaay back. We were in real estate here since 1986 so we have some background on the market, but didn't keep MLS books that far back. Lucky for us the Realtor did.