Two Questions on Appraisals

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 4 months ago.



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    Anonymous

    Hello, and good day! Anyone got answers to both or either?

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    1. Someone wishes to tell their portion of a two-unit TIC. Obviously this buyer’s lender will send an appraiser. So does the entire building get appraised or simply just the unit for sale (or both)? And is there a way to influence this, say, especially if the unit for sale is so much nicer?

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    2. Lender sends a poorly informed appraiser with lack of attention to detail and appraiser makes several mistakes that inform either an over-appraisal or under-appraisal of value. The client of the lender pushes back on appraisal with a fully documented list of what is wrong with it. The lender refuses to order a second appraisal or adjust the value. If the aggrieved party (buyer) suffers damages as a result, is it the lender or the appraiser at fault?



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