Profile picture for javaman58

How is an appraisal done on a unique log home lake house with no comps nearby?

  • September 05 2009 - Port Orchard
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Answers (2)

Profile picture for user38716349
What happened with this? I am in a similar sitiation
  • September 13 2012
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Yeah, tough question.

The typical method for determining the value of residential real estate is the Comparative Sales Method; as you point out, you have a unique and incomparable property.

A secondary method is the Replacement Cost Method, where an appraiser determines the value of the land and the cost of rebuilding the home, deducting for wear and tear.

The last method in the appraiser's arsenal is the Income Approach, which isn't really quite so helpful with single-family property.

So I think that the Secondary Method will be the one used in your case.
  • September 10 2009
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