The Premier Online Community for Real Estate Appraisers!
-
Welcome to AppraisersForum.com, the premier online
community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.
Multiple Appraiser Reconciliation Approach
- Thread starter JCurtis
- Start date
- Status
Mike Kennedy
Elite Member
- Joined
- Sep 28, 2003
- Professional Status
- Certified Residential Appraiser
- State
- New York
On many other occasions the requirement is to specifically engage the services of an Experienced, Competent, Ethical, Local Certified Appraiser who is an Independent Appraiser.
If the reconciliation by the third appraiser was needed because the two appraisals were more than 10% apart, the reconciliation would be done at the desk only, using only the information and analysis in the reports - not another on-site appraisal.
Last edited:
Lost Cause
Senior Member
- Joined
- Sep 17, 2004
- Professional Status
- Certified General Appraiser
- State
- New York
Based on your clarification, it appears the value of your property to the golf course owner/operator could very well exceed its market value. It is not unusual for certain properties to have value in excess of market value to certain specific individuals. Agreeing to sell to the golf course owner at market value may actually be a concession on your part. Have you discussed this with any local appraisers or brokers at all?
Webbed Feet
Elite Member
- Joined
- Feb 11, 2005
- Professional Status
- Certified Residential Appraiser
- State
- Canada
Part A - Hire your own real estate appraisal. You would be under no obligation of any kind to disclose the results of it to anybody.
Part B - Hire an outside, unbiased, third party to, on behalf of the both of you, hire an appraiser and be the appraiser's client. The deal is neither of you get to question, pressure, or even speak to the appraiser. Pay the third party to do all of that on your behalf.
Part C - Negociate
Part D - based on failed negociations.... put the real estate on the open market. Better yet, go find somebody rich that really hates this golf course owner and see what he or she might be willing to buy the land for.... :icon_mrgreen: If you get an offer from them, go ask the golf course owner what it's worth to him now....
I do think that this is a unique situation, and the market value is probably not the best measure of value here.
Last edited:
I have arranged with some lumber companies. Also started aggressively marketing elsewhere.
Last edited:
Michigander
Senior Member
- Joined
- Oct 23, 2003
- Professional Status
- Certified Residential Appraiser
- State
- Michigan
Hello JCurtis, I don't think you are off base with your approach, but you have to realize the review appraiser, opining to a value, would be rendering an appraisal as well. You might simply hire several appraisers to do the work and do not let any of them know there are others developing the appraisals. There are probably not that many appraisers in your area who are able and willing to do it to begin with, so they might catch on when they start calling each other looking for any sales however.
Start with some of the appraisal directories for appraisers and then interview for experience with this type of situation and ask other local appraisers for recommendations of whom they think is most competent and ethical. Names will repeat and those will be a good start.
http://www.appraisalinstitute.org/findappraiser/searchresult.aspx?st=MI&map=Y&rld=T&s=2
http://www.naifa.com/Appraiser/
Try these to start. And good luck!
Start with some of the appraisal directories for appraisers and then interview for experience with this type of situation and ask other local appraisers for recommendations of whom they think is most competent and ethical. Names will repeat and those will be a good start.
http://www.appraisalinstitute.org/findappraiser/searchresult.aspx?st=MI&map=Y&rld=T&s=2
http://www.naifa.com/Appraiser/
Try these to start. And good luck!
- Status