Valuing Complex and Unusual Properties: Guidance for Investors and Lenders
As an investor or lender, you need accurate valuations of residential properties to make informed investment and lending decisions. However, you may encounter distinctive homes and buildings that present appraisal challenges due to their unconventional attributes. Here are some key considerations when assessing complex and uncommon properties:
Look Beyond Superficial Uniqueness
Some characteristics like unusual architecture may not impact value. Focus instead on features that affect utility, desirability and marketability – such as functional obsolescence, legal restrictions, environmental issues or external neighborhood factors. Identify the underlying value drivers.
Require Detailed Research and Data
Insist on more intensive research and data gathering by the appraiser. They should tap specialized sources beyond MLS listings to find comparable sales and understand the property’s distinguishing features. Subjective opinion has little place in appraising unusual homes.
To learn more, please visit the link below:
https://www.bostonappraisal.com/valuing-complex-and-unusual-properties-guidance-for-investors-and-lenders/
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