- Joined
- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Alabama
Just received a call from an attorney ( a Field I am trying to break into) requesting an appraisal. Seems they have 2 homes that have been flooded by the sewer. They need an appraisal of present value of the houses. They are bringing in a contractor to give them an estimate of damage to houses.
I have not seen the houses and do not have all the details yet. I am trying to get my thoughts together before I get there. Anyone dealt with anything like this?
Obvious we have a cost to cure what ever damage this has caused. Contractors estimate is going to weigh heavily in my appraisal. I wondering if there are any other issues that might affect value? Stigma comes to mind but that would be tough to prove and stand behind. But if the houses were sold as-is there is probably going to be some discount beyond the cost or repairs I would think. But how much?
Any other input? I am open to wild thought here. Want to be prepared when I go visit the houses.
I have not seen the houses and do not have all the details yet. I am trying to get my thoughts together before I get there. Anyone dealt with anything like this?
Obvious we have a cost to cure what ever damage this has caused. Contractors estimate is going to weigh heavily in my appraisal. I wondering if there are any other issues that might affect value? Stigma comes to mind but that would be tough to prove and stand behind. But if the houses were sold as-is there is probably going to be some discount beyond the cost or repairs I would think. But how much?
Any other input? I am open to wild thought here. Want to be prepared when I go visit the houses.