Legal Question in Real Estate Law in New York
Appraisal without ever inspecting house?
I am involved in a property dispute where the other coowner has declared bankruptcy. I informed trustee that I would like to buy out the coowners share. This was expressed to trustee about a week ago.
Today trustee informs me that he had the property appraised. My question, how is that possible if the house has not been appraised. I live here and there is no way this could have been down without my knowledge. The co-owner left the house over a year and a half ago and has not paid since. In addition the appraisal is nearly 50 thousand dollars over the appraisal by a licenced appraiser. I had done in April 2001 when i first tried to buy the premised from the now bankrupt co owner.
Coowner has no key to home.
1 Answer from Attorneys
Re: Appraisal without ever inspecting house?
the appraisal could have been a drive by appraisal. the appraiser than just pulled up comps from the land records. if you believe that the appraisal id too high, we can negotiate with the trustee. we must convince the court that your appraisal is closer to the real price.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
