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Rosedale sale?

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Edward OConor

Member
Joined
Apr 27, 2006
Professional Status
Certified Residential Appraiser
State
New York
It' going to be one of those months!!!!!

I have an order for a sale of a 1925 20 x 28 colonial B3. I haven't seen the contract (or the property) yet but the order indicates that the sale price is $640,000.00. I am hoping that the 6 and the 4 are backwards

I have a sale across the street for $508,000.00. Even that seams high. :shrug:

Opinions??? I am hoping that they gold leafed the interior.
 

Kevin Mc

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
It' going to be one of those months!!!!!

I have an order for a sale of a 1925 20 x 28 colonial B3. I haven't seen the contract (or the property) yet but the order indicates that the sale price is $640,000.00. I am hoping that the 6 and the 4 are backwards

I have a sale across the street for $508,000.00. Even that seams high. :shrug:

Opinions??? I am hoping that they gold leafed the interior.

Are you sure it is still a 1925 colonial? It could be new construction because there has been an awful lot of it down there of late.
 

JoeGermade

Junior Member
Joined
Oct 4, 2004
Professional Status
Certified Residential Appraiser
State
New York
try the NY DOB web site. Even if there isnt a CO on file they may have job filings you can sort through.
 

Edward OConor

Member
Joined
Apr 27, 2006
Professional Status
Certified Residential Appraiser
State
New York
I checked the DOB, no filings, the last c/o was in 1961. There is a exp (1/08) listing that shows a 20 x 28 colonial for $495,000.00
 

Eli Weiss

Senior Member
Joined
Nov 28, 2005
Professional Status
Certified Residential Appraiser
State
New York
A sale in Queens that is not on the MLS is huge red flag....

If you think the banks have changed since the meltdown, you are mistaken, I am still seeing tons of fraud sales and flips in the hoods.....
 

Claude From NY

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
New York
No gold leaf-

If it's the one that I think it is...same old story, the owner is upside down, owes more that the property is worth. Sounds like some shenanigans going on with yours. Proceed with caution, line up yer ducks and fire away. Is this a FHA deal by any chance?
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
It' going to be one of those months!!!!!

I have an order for a sale of a 1925 20 x 28 colonial B3. I haven't seen the contract (or the property) yet but the order indicates that the sale price is $640,000.00. I am hoping that the 6 and the 4 are backwards

I have a sale across the street for $508,000.00. Even that seams high. :shrug:

Opinions??? I am hoping that they gold leafed the interior.
IMO, this is simple. Just do your appraisal as if there is NO number attached to it. Once you've finished everything else in your report, look at the contract and fill in the information about it and any necessary explainations of it and any other 'guidelines' you might have exceeded. Maybe you could start blacking out any values / numbers that are on the orders - and not look at contracts until that all you have left to do.
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
yet one more example of why.........the $$$ Bullseye MUST be deleted from the USPAP.


"It IS what it IS"
 

Edward OConor

Member
Joined
Apr 27, 2006
Professional Status
Certified Residential Appraiser
State
New York
I've got NO problem killing a deal.

I just like to double check with others when it's a number like this, just in case there is something I might be missing.

EVERYONE HAVE A GOOD WEEKEND!!! I'll be :new_all_coholic: at a graduation party today and expect to be :Eyecrazy: by 4:00 even though my wife will be :nono: then :new_multi:
 

Daystar

Member
Joined
Sep 7, 2006
Professional Status
Certified Residential Appraiser
State
New York
Ed,

You have an expired listing @$495,000. a $640,000 Contract? and a $508,000sale across the street . Whats the question? I dont think you are missing anything. Subject exposed to market for $495,000 and listing expires, that would send up red flags to me.
 
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