George Hatch
Elite Member
- Joined
- Jan 15, 2002
- Professional Status
- Certified General Appraiser
- State
- California
On the SFR side of the business I've seen a number of the 2-parcel combos sell in the past and its as common as not for them to convey in separate transactions with either an all-cash for the lot or a separate loan - sometimes with a different lender.
That's why I always do a separate land valuation for the additional lot whether the lender requests it or not. They may not have use for it later on, but if they do then they already have what they need in hand. They might want to subordinate or release the additional lot later on so having an idea of the value at the time of the original sale might become a bit of useful info.
That's why I always do a separate land valuation for the additional lot whether the lender requests it or not. They may not have use for it later on, but if they do then they already have what they need in hand. They might want to subordinate or release the additional lot later on so having an idea of the value at the time of the original sale might become a bit of useful info.