Property Apprasials & 2nd Opinions

Looking for a professional 2nd opinion on an existing property apprasial document only. Does anyone have recs? Also, what is fee you have encountered for this service?  Thanks, BoD

bowl-of-dicks

in Appraisals 11 years and 10 months ago

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jessica22 | 11 years and 7 months ago

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Well for the second opinion on your property appraisal, you can consider Cornerstone Appraisal LLC.

cupolacoffee | 11 years and 10 months ago

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By rights, and for estate accounting purposes, your appraisal should be a date of death appraisal. Your attorney should be able to suggest a licensed and certified appraiser known to the surrogates court. The only way to establish current open market value (due to current frenzy) is not through appraisal, but through sale on the open market. If you’re debating value for sale to a family member, or if you and your siblings, spouses, whoever, are fighting about distributions, that’s a matter you should negotiate with your attorney(s). If you want a local appraiser, walk into the storefront of an oldtimer local appraiser. Otherwise, these days, you’ll get two different appraisers selected by your bank, almost guaranteed not to be local.

bowl-of-dicks | 11 years and 10 months ago

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The purpose of the 2nd opinion is because all the comps they used are 6+ months old sale prices, and lately, the market has been super competitive in this area (prime Carroll Gardens) with insane bidding wars, etc. Also, the original appraiser is located in a different area of Brooklyn and therefore may not be as atuned to the CG market.  This is for estate purposes. Thanks, BoD

cupolacoffee | 11 years and 10 months ago

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What is the purpose of the 2nd opinion? Was original appraisal undertaken for a possible purchase, or for estate purposes? Frankly, I can’t imagine a licensed appraiser rendering an opinion on another appraiser’s report without having done an appraisal him/herself. But you can always try calling the appraisers who’ve been recommended in the forum and ask.