What To Do If No Doc Or Apn In New Construction Appraisal?

[Lobo Fan]

Hey PE, let me try and guess who did that bogus new construction appraisal...Were his initials GS?

 

[mdtulips]

APN= Not assigned.

If they are sales, why wouldnt there be a recording # or doc#? It should be on the deed of the comparables.

Fidelity Title just told me that the 4 comps I have don't have APN or DOC' # yet, all of them closed in late July.

 

[Lloyd Bonafide]

Fidelity Title just told me that the 4 comps I have don't have APN or DOC' # yet, all of them closed in late July.

The Title Company can't give you a document number if you don't have the APN. But if they closed escrow, there is a document number somewhere. Since it's a new property, they won't be able to check by address either, since it usually takes the Assessor a few months to reconcile the addresses on new homes.

If you use NDC Data, put in the first 4 or 5 numbers of the APN, and check by partial parcel number, if you can find that from the old APN, or from APNs on other sales in the neighborhood in the last 6 months or so, and you should find the sales, even though the street number doesn't show up. Or possibly check by street name on NDC Data, without a street number.


If the property is in SD County, possibly check this link, also:

http://arcc.co.san-diego.ca.us/services/propsales/propsales_search.aspx

It probably won't show a sale for a new home, but it's worth a shot. You can also sometimes use this link to verify a sale price on those sales where the price does not show up on Realist or NDC Data.

 

[mdtulips]

If you use NDC Data, put in the first 4 or 5 numbers of the APN, and check by partial parcel number, if you can find that from the old APN, or from APNs on other sales in the neighborhood in the last 6 months or so, and you should find the sales, even though the street number doesn't show up. Or possibly check by street name on NDC Data, without a street number.


If the property is in SD County, possibly check this link, also:


Thanks for your help Lloyd, but the property happens to be in Moreno Valley. Unfortunately, I don't use NDC because it's too costly for me as a trainee, but I know another appraiser who does and maybe she can help do this search for me.
Thanks for everyone's assistance. I really appreciate it.

 

[AL LLANOS]

In Riverside County you can try this:

http://pic.asrclkrec.com/Default.aspx

 

[Penny Smith]

I've always been able to get info from the title company as long as you have the lot and track number of each of the sales. Sometimes that is the only way they are able to look up the sales data. I would call them again and find out who exactly is working on that project to get your information. You have to push them sometimes.

 

[Penny Smith]

By the way, the sales office should have the lot and track number for you as well as a copy of a plat map or a plat map of sorts showing each track and lot.

 

[Carnivore]

I can only speak about North Carolina.

If parties(agent, builder, title company) to a sale are telling you that certain comps are closed, then ask them who the closing attorney was?

The attorney can give you the deed book and page number. Thats all you need to do to verify a closed sale in NC. The APN is usually on the deed also.
Plus the sales price is expressed in revenue stamps of $1,000 dollars for every $2.00 dollars in stamps.


Easy, no one can lie to you, unless the attorney is in on the scam also.

 

[Farm Gal]

I am STILL not sure exactly how this was allowed to comeabout... but in a certain neighborhood in a certain mid-west county, several homes sales were not only 100% constructed, sold, closed, but also OCCUPIED without a legal lot split having preceded the closing of those sales. Basically entire cul-de-sacs and sections of blocks were under 'sole ownership'.

Do NOT assume anything. Get with the county and make sure that you understand what exactly is the legal status of the dirt underneath your sale and the comparable sales you use.

I wrote the report for a formerly great client (who had a live birth cow) when I 'splained' the whole mess and covered my tailfeathers with EA's and HC's to state that the value was based on the Extraordinary Assumption that the lot would be split and the Hypothetical condition that it wasn't but could be.

I lost the client.... and was permanently banned (as an invertate troublemaker) from appraising any new homes in the subject and adjacent single builder subdivision(s).

But I didn't wind up as the owner of a unsplit house.