Future Proofing Property

All about investing in property

A piece of property was being contended by a friend and sibling. It was not of substantial worth, but did have a value enough to be contended over. It was a piece of property their parents acquired shortly before both of them passed on. It was therefore not in the will. The siblings have never gotten along well. One wanted to buy the property outright. The other wanted the value of the property in cash. However, they disputed as to its actual value. The one buying it said it was worth less. I suggested a Sacramento appraiser to one of the siblings who was my friend. Then I told the other one to hire a different appraiser. If the two appraisals came in at different prices, then they could split the difference in half both walking away happy.

I knew that the Sacramento appraiser I recommended would give a fair price. I had no idea where the other sibling would find an appraiser, nor did I know what price they might come back with. It took the other sibling a few weeks to hire an appraiser. My friend had it done and over with the same week. His sibling was always dragging her feet getting important things done. However, she was anxious to get her hands on the money for the sale of the property from the estate.

She finally hired an appraiser who went out to look at the property. I knew when he showed up because I live right next door to the property being contended. He did not look very professional. I do not even think he measured the property or considered the run down property on the far side of it. The Sacramento appraiser, on the other hand, was there for some time looking at things, taking pictures and doing measurements. Since it was going to be used to build a house, he even was taking some soil samples. That is pretty thorough.

The appraiser I recommended had a bid that was about seven thousand less than the appraiser who did not really look at the property. The two siblings split the difference of $3,500, and my friend now owned the property. It is sad when families go crazy like this over money or property of dead relatives.

 

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