Site Comp Sale Date After Effective Date

[Sadie]

Is that still a valid interpretation in the case where you KNOW what the eventual sales price of that sale is? IOW, it's one thing to base your opinion on an unknown, but in the case where the sale settles prior to the signature date, even though it wasn't settled as of the effective date, it is/was a known prior to the report being released...

But you didn't know what the actual sales price would be. Look at all of the properties not selling for list price right now. You want to depend on one of those for your value estimate? .

 

[alebrewer]

But you didn't know what the actual sales price would be. Look at all of the properties not selling for list price right now. You want to depend on one of those for your value estimate? .

But you did... you have that info before the appraisal left your computer. It settled before the signature date, but after the effective date.

 

[Sadie]

Its a fine line that you walk there. Not every one agrees with that line of thinking and some of the people who disagree may have the power to make your license go away. Do you really want to fight that particular fight? But hey you do you.

 

[alebrewer]

But hey you do you.

I wish more folks understood that concept.

 

[Sadie]

I wish more folks understood that concept.

Here is the problem that you might run into. If you are efficient and complete your report the day you look at the property, then said pending sale has not closed and you have MV est. $A. If you wait a bit and your pending sale closes and you use it, you can have MV est. $B. Which is more supportable and which one does your peers use? Again, pick your path.

 

[alebrewer]

Here is the problem that you might run into. If you are efficient and complete your report the day you look at the property, then said pending sale has not closed and you have MV est. $A. If you wait a bit and your pending sale closes and you use it, you can have MV est. $B. Which is more supportable and which one does your peers use? Again, pick your path.

You just couldn't help yourself, huh? What happened to the 'you do you'?...

 

[Sadie]

You just couldn't help yourself, huh? What happened to the 'you do you'?...

Just want you to see all sides of the puzzle. I'm not sitting on your shoulder telling you what to do or how to appraise a property. My statement above wasn't telling you how to do anything.

 

[alebrewer]

Just want you to see all sides of the puzzle. I'm not sitting on your shoulder telling you what to do or how to appraise a property. My statement above wasn't telling you how to do anything.

Thank you for your concern.

 

[Sadie]

Thank you for your concern.

We are all just one irritates person away from being turned into our state board for whatever random reason. And yes, I do understand sarcasm. Its all fun and games until someone get their eye poked out.

 

[alebrewer]

We are all just one irritates person away from being turned into our state board for whatever random reason. And yes, I do understand sarcasm. Its all fun and games until someone get their eye poked out.

I seriously doubt if any state will cite an appraiser for stating a comparable as 'pending' as of the effective date of appraisal, then adding commentary in the body of the report that the comparable was pending as of the effective date, but settled before the signature date at $zzz,zzz, thus was afforded weight in the final reconciliation. On the contrary, I think there's a better chance an appraiser would be cited for ignoring that information in the reconciliation. I was an investigator for the TALCB, so it's not like I'm speaking from complete ignorance.