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Offered for sale?

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Greg davenport

Thread Starter
Member
Joined
Mar 30, 2004
Professional Status
Certified Residential Appraiser
State
Arkansas
Working on a Review of a purchases appraisal. The subject was listed FSBO, no through a real estate agent.

The original report has No check for the "is the subject property currently offered for sale", an does not provide any listing information.

My take on this is that a FSBO is a listing, and that information should have been provided. What’s “your” take on it?
 

PropertyEconomics

Elite Member
Joined
Jun 19, 2007
Professional Status
Certified General Appraiser
State
New Mexico
Working on a Review of a purchases appraisal. The subject was listed FSBO, no through a real estate agent.

The original report has No check for the "is the subject property currently offered for sale", an does not provide any listing information.

My take on this is that a FSBO is a listing, and that information should have been provided. What’s “your” take on it?


Greg ... there are other threads here on this issue and many people disagree ... I personally find it interesting that the form does not ask about listed ... it asks about offered ... If the property was "offered" as a FSBO .. then I think you would be hard pressed to check the no box. An offer to sell is an offer to sell whether a Realtor was involved or whether it was "listed" in any MLS system.

My vote .. Yes it was offered for sale.
 

Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
Working on a Review of a purchases appraisal. The subject was listed FSBO, no through a real estate agent.

The original report has No check for the "is the subject property currently offered for sale", an does not provide any listing information.

My take on this is that a FSBO is a listing, and that information should have been provided. What’s “your” take on it?

Absolutely! An interview with the seller should be able to determine when the property was placed on market and by what means, how many interested parties, how the buyer and seller met and settled upon a price, etc.
 

Kevin Mc

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
it should be noted on the report that it was FSBO. Time on market etc...should all be there if the info was available, if it wasn't, that should be noted as well.
 

Hamlet

Elite Member
Joined
Aug 14, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
I agree with everyone else that it was offered for sale.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
A FISBO actively marketed is on the open market and offered for sale.

Don't confuse this with someone like me who says everything I own is for sale... being in real estate and flipping, for the right price I'm willing to sell the house we just finished and moved into. Heck, for cash and if the price is high enough, I'll move out this weekend!! :icon_mrgreen:
 

Wayne Tomlinson

Senior Member
Joined
Jan 25, 2005
Professional Status
Certified General Appraiser
State
Illinois
Iagree with Mountaimn Man, however it might take a while longer to move, I have gotten a lot slower about that.

Wayne Tomlinson
 

leelansford

Elite Member
Joined
Mar 29, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
Working on a Review of a purchases appraisal. The subject was listed FSBO, no through a real estate agent.

The original report has No check for the "is the subject property currently offered for sale", an does not provide any listing information.

My take on this is that a FSBO is a listing, and that information should have been provided. What’s “your” take on it?

When in doubt, "disclose, disclose, disclose".

We often lack perfect awareness, but what we are aware of is best to disclose rather than remaining silent.
 

stefan olafson

Senior Member
Joined
Apr 2, 2003
Professional Status
Certified General Appraiser
State
North Dakota
According to one expert who reviewed my work product, even a phone number on the side of the building means it was listed/offered for sale and not disclosing that and any pertinent information on the method of listing, days on market, price changes is a violation of USPAP.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Iagree with Mountaimn Man, however it might take a while longer to move, I have gotten a lot slower about that.

Wayne Tomlinson

Hey man, I'm too old to move myself too. This last time I hired it all out, including the packing. Paying a full crew for 2 days was well worth the savings of DR bills and pain meds! :icon_wink: Oh wait... I might would have enjoyed the pain meds. :rof:
 
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