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How do you appraise a home that sits on an oil plume?

We're looking at reasonably priced homes in the Riggs Park area of N.E., D.C. and we know that there are several homes affected by an EXXON Gas Station oil spill which created a plume under many of these houses.  The houses now have fume mitigation equipment in them.  Do we need to have an environmental appraisal as well as a regular appraisal to establish fair market value?  We're looking at several properties on Eastern Ave Ave and Oglethorpe St. N.E.
  • May 21 2014 - Washington
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Answers (1)

You have to measure the external obsolescence.  A good appraiser (Oh, pick me!) can do that for you :)
  • July 11 2014
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