Quote:
Originally Posted by Challenger
If this this is the case they are violating all the principals of appraisal regulating bodies. The bond is part of total consideration for the house. Should also be included in determining the total consideration for comps. This premise is very strange. I suspect real estate professionals love it as it mis states the purchase price so that bond homes seem to be a better buy and therefore easier to sell. Someone !statistical evidence ---please.
|
Please feel free to contact any appraiser that you would like to contact here in the area. You will find that no appraiser will take into account that a bond is paid off or has a $50,000 bond. It is part of the tax bill so it has no part in an appraisal. Do buyers look at the fact that a bond is paid off versus a higher bond? Absolutely! But location, what is behind the house like another house or privacy, where the interior walls are at & the list price should normally be the biggest factors when purchasing a home here. When it should come in the play is if you are down to three homes and you cannot decide which one to purchase then you may look at the remaining Bond balance to decide. But overall the person that asked about a $300,000 home, the easiest way to think about it is the newer the House, the higher the CDD bond and the CDD maintenance amounts on your tax bill. Plus sometimes you will find homes where the folks have paid the bond off. Yes our real estate market is extremely different than any other market in the United States. It is up to the owner of the house to decide when or if to pay off the bond!