appraisal of the value from 18 months ago? - Posted by Kathi Black

Real Estate Investing
1

Posted by Jason on May 07, 2007 at 18:54:42:

No Problem. Glad I could help.

2

appraisal of the value from 18 months ago? - Posted by Kathi Black

Posted by Kathi Black on May 06, 2007 at 18:31:41:

I owned a house with a partner. I sold my half to the partner 18 months ago. Now he’s selling the whole thing back to me. We didn’t bother with a formal appraisal back then.

The bank wants to see an appraisal from 18 months ago, and my accountant says he needs it too.

Is there an easy way to get that kind of appraisal done?

3

Re: appraisal of the value from 18 months ago? - Posted by Bill Jacobsen

Posted by Bill Jacobsen on May 07, 2007 at 12:05:08:

I may be dense this morning. I am on my first cup of coffee. I can’t understand why the lender or accountant needs to know the appraised value 18 months ago. You sold to the partner for a certain price and that is the only thing that is relevent.

Bill

4

Re: appraisal of the value from 18 months ago? - Posted by Jason

Posted by Jason on May 06, 2007 at 19:38:14:

Easy… The lender or whom ever does what we call a retro type appraisal. That is where that go back the day that was sold and appraise property based upon the information at that time.

You will have to find appraiser that does that type of appraisals.

5

Re: appraisal of the value from 18 months ago? - Posted by Jason

Posted by Jason on May 07, 2007 at 18:59:03:

These type of assignments are more common than you think. I’ve been in the residential appraisal for 15 years and I get calls every couple of months regarding “Retro Appraisal” assignements. Most of the time its for estate purpose or attornies requesting them.

6

Re: appraisal of the value from 18 months ago? - Posted by Kathi Black

Posted by Kathi Black on May 07, 2007 at 07:23:55:

Thanks for telling me what the name of the appraisal is! It’s hard to find someone when you don’t know what you’re asking for.

Thanks for the reply!