(Lake Medina Specific)
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(Lake Medina Specific)
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Name:
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Spot Remover
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Subject:
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Recommended Appraiser?
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Date:
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7/14/2008 11:16:39 AM
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Remember one thing, an appraisal is based upon the market value. So no matter what the structure is that is located on the property, it is what it is. And that the structure could very possibly have a negative impact on the market value of the parcel. (cost to remove) Normally, other improvements, such as a seawall, dock, etc. will more than likely offset the cost to remove the residence.
The value, as already stated, should be based upon the highest and best use of the property. I've seen very few of the parcels with cabins on them, appraise for anything but the actual value of the site.
A contingency in the market approach to value might be to get 2 appraisals done, with one vacant of any residence, and one with a similar structure.
I definitely would not attempt to evaluate the property myself, in that it could be questioned as to the qualifications of the person performing the appraisal. Your market value, unless you are a licensed appraiser, would amount to little in any future proceedings.
No matter how close you come to the actual value, you would be considered to have a "vested interest" in the value, and constitute a direct violation of USPAP requirements. The USPAP requirements are directly associated with the reliability of any appraised value, and "non arms length" evaluations would be shot down very quickly.
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