I say WTF!
Working a deal and all is going a bit to well, so you just know something is about to go Boom.
This Boom was special as it involved square footage that you could physically touch (walls/windows/floor/roof/electrical) but since it did not have something you could not touch (Air conditioning) the lovely appraiser decided not to include it in his calculations.
The County has all of the square footage on it’s tax rolls and it’s making sure that it’s getting the Physical and meta physical taxed to the nuts.
The current survey has the same.
The previous appraisal has the same.
Apparently the current appraiser measures in metric……..
So for now, we’re 60k a part and this deal is dead.
but wait it gets better….
When I review the Appraisers wonderful work, he has given me a 228 sq ft value but has deducted 310 sq ft in physical living space…..in short he’s shorted me 70k in value
Now, when I point this out to Mr. Appraiser, he goes on and on about the fact that the space in question does not have A/C and that he can only give it a certain value and that’s that.
(Appraiser, they have special people skills)
But me being who I am, decide that this appraiser is going to lose a couple of nights sleep (just like the Seller/Buyer are) and ask one simple question…..
So Mr. Appraiser, what you are telling me is that if I remove the sliders (less than a 1000 bucks) or put in an A/C vent (less than 1000 bucks)you will give me 70,000 in value and in all actuality the Buyer is getting a great deal?