possible deal

[Mark Betche]

Originally posted by "all_cash":

It sounds like you're confusing two things that have the same name. A tax appraisal is of no value in determining FMV. In TX sales prices are "self reported" and optional so they're of no value at all. In CO they seem to reflect at least a little bit of reality as the sales price from the HUD-1 is recorded at the county office.

An "indpendent appraisal" is conducted by a (generally state) licensed individual as is relied upon by buyers (sometimes) and lenders for determining their level of risk. It is based on CLOSED SALES so there should be a great deal of accuracy.

I once took an appraisal class at a RE school, it was of some value to me, but not enough that I would recommend it for everyone.

all cash

I'm concerned about a deal I may make in the future, on a building I currently rent from my uncle. Judging by the price and size of the properties for sale in the area, my deal sounds good, but those properties have been for sale a good while.

The building I wish to buy is also not in as good a shape, though bigger. I feel compelled to have the property appraised, but wonder how accurate this will be. My deal relies much on the abillity to lease a big portion of the property.

I question whether I should have a management company lease the building, in fear it will set vacant, too long. But I don't want to short change myself on price, just to get someone in. I don't wish to hijack this thread, but some of my question applies. Need some insight, thanks.