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Tax, SDIRAs & Cost Segregation

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Michael C.
  • Investor
  • New York, NY
92
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91
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Do appraisers check the lot line for the subject property

Michael C.
  • Investor
  • New York, NY
Posted Aug 4 2020, 17:25

Hi all,

We are in contract for a property and just discovered part of the house may sit on a separate lot owned by another party. Property is located in Gatlinburg, TN.

We just checked the county website and discovered it.

Question- does an appraisal check to make sure a house actually sits on the lot you are buying? The current owner has an appraisal that says the property is worth $X, which is impossible if part of the house is on a different lot.

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