Is An “As-Is” Appraisal A Good Idea?
A local appraiser we work with recently received a call to appraise a home in Florida. The home owner said that his home consisted of 2 acres of land and a partially built residence. He wanted to know if an “as-is” appraisal for the property was a good idea. Normally, homes that are under construction are not good candidates for accurate “as-is” appraisals because it is very difficult or nearly impossible to find comparable homes that have sold while in similar states of repair. Plus, when doing an “as-is” appraisal, the home in its current state is not worth the same amount as the home in
