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Thread: Appraisal of Property

  1. #1
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    Default Appraisal of Property

    Hello All,

    I'm looking for a Internationally recognized appraiser of property in order to proceed with a project in the southwest. Unfortunately a local appraiser will not qualify.

    Thanks in advance

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    Richard,
    Try contacting the banks, specifically Banco Popular for an appraisal if it is a 'project' development. They are an international bank.

    Alternatively, DGII lists the govt. appraised value for tax purposes. It is a bit hit / miss i.e. in some cases I have found the tax value to be up to 2-3 times higher than the tax value and on other occasions, up to 20% below the market value.

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    Banco Popular can help you because they are international bank. There are certified appraiser ensures the quality of their work. This also maximizes the most experienced appraisers in the area on a nationwide level.

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    Thank you both for your replies. I will contact Banco Popular. Thanks again.

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    Will Banco popular handle undeveloped properties. I have a mineral deposit property already certified by the secretatry of mining. Curently there appears to be a despcrepency on valuation. My question is, "does banco popular do certified MAI Appraisals??

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    I've been in contact with BancoPopular and they are to send me a list of approved appraisers. If you PM me I can put you in communication with them so you can ask.

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    I had Banco Progresso send over an appraiser for some land. I got a very nice appraisel all certified and stamped. Then I had Banco Popular do the same thing. Another nice appraisel, bound and stamped. Nice, right?

    Except they differed in value by about $500,000 USD ! An amazing difference given they were done by two different people, two different banks and both are certified appraisers. Something tells me that even most certified appraisers should be checked very carefully before you rely upon them.

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    Quote Originally Posted by AnonTraveler View Post
    I had Banco Progresso send over an appraiser for some land. I got a very nice appraisel all certified and stamped. Then I had Banco Popular do the same thing. Another nice appraisel, bound and stamped. Nice, right?

    Except they differed in value by about $500,000 USD ! An amazing difference given they were done by two different people, two different banks and both are certified appraisers. Something tells me that even most certified appraisers should be checked very carefully before you rely upon them.
    Really! this is very very important. Are you at liberty to tell me more?

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    Quote Originally Posted by Richard Alberto View Post
    Really! this is very very important. Are you at liberty to tell me more?
    I had a similar but not as drastic situation. Appraisel #1 was about $800K for a ranch, Appraisel #2 was $500K for the exact same thing. Both done by the same appraiser about 6 months apart! Certified appraiser...yeah...right!

    I am sure there must be appraisers in this country who are competent but I've had no luck in locating them either through attorneys, banks or their cabal (association). If you ever locate one, let me know.

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    Quote Originally Posted by Richard Alberto View Post
    Really! this is very very important. Are you at liberty to tell me more?
    I am not sure what else I can tell you. Be very careful of appraised values. They apparently are all over the map since they do not have the same appraisal system as we do in the US.

    It's pretty much hit or miss unless you specifically know an appraiser who has been vetted by someone else (not just the bank or the union they have).

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