Fair Market Value For REO Listing

[Meandering]

You're kidding, right? The market will pay more when all conditions of MV are met...and with REO sales, they are not met, thus why they sell lower.

As is, AS of the day
It is an REO, taken by a lender,
it is an REO listing.


Where is your handy-dandy list to sale price ratio you were defending the other day as valid?

Or does that LP/SP only apply to owner/user listings?


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[residentialguy]

Moon, they want to know what the property would sell for with a typically motivated buyer and seller.

 

[residentialguy]

It is an REO, taken by a lender,
it is an REO listing.

With that logic, a father to son selling for $100, then MV would be a father-son sale. MV has NOTHING to do with the subject's selling conditions. Market Value is a presumed sale under precise conditions set in the definition of MV.

 

[Meandering]

Moon, they want to know what the property would sell for with a typically motivated buyer and seller.

As is, as of the day

it is listed for sale with PROVEN market exposure at a LIST PRICE.

Why do you think that's not valid?

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[residentialguy]

Where is your handy-dandy list to sale price ratio you were defending the other day as valid?

the sale price ratio would be exactly as I explained it. My MV would not be a REO price, but of a typical Arms lgth sale, thus the sale price ratio of similar actives would reflect that value.

 

[Meandering]

With that logic, a father to son selling for $100, then MV would be a father-son sale. MV has NOTHING to do with the subject's selling conditions. Market Value is a presumed sale under precise conditions set in the definition of MV.

What part of
as-is
as-of the day,
and
Market exposure,
evidences market acceptance,
for what
is
as-of
the
day
are you failing to grasp?

Did anyone say make an HC that none of this is true and we can crap out a Harry Potter wand and pretend it's something else?



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[residentialguy]

As-is is for the property physical condition, not the conditions of the seller and the contract. The seller's motivation of a subject has NOTHING to do with MV. What don't you get about that???? OP is not to opine the most probable price from that bank as a seller, he is to opine the most probable price of a typically motivated seller and buyer.

 

[Meandering]

As-is is for the property physical condition, not the conditions of the buyer and seller's contract. The subject's sale has NOTHING to do with MV. What don't you get about that????

you've been talking to J, too long.

Nobody said anything about a contract or the subject's sale.

Start from the beginning.

you are appraising,

Interest Valued:

The property rights appraised are the fee simple interests in the land and improvements herein described, subject to..............

The Dictionary of Real Estate Appraisal 4th Edition defines Fee Simple Estate as Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power and escheat.

Is that what is bought when an REO is purchased?

Sometimes,

Sometimes not.

 

[residentialguy]

lol...JG & I are far from agreeing with REOs.

 

[residentialguy]

Is that what is bought when an REO is purchased?

Typically, yes. So, my post were right on point.