We built a house last year in the country on three ajoining land parcles. Now we have a contract to sell the house and property. All we need is the property appraisal to come in at the selling price which is lower than we payed but that is just todays market.
Here is the issue, this is a very unique property, 27 total acres that was a park in the 70's with a lake that has a concrete bottom for swimming, a large barn, and the 2700 ft new house. Oh yeah there is an oil well on the property which the new owner will recive royalitys and get free natural gas for the home. There is no comps for anything like this in the area. The county did record the new house but messed that up too recording the house as being built in the 1900's. Then the county property tax office has not revaluated the property for many years and therefore for example my neighbors land that has just an old small barn on it is almost three times more valuable according to the tax records. So my question is how can the bank appraiser be able to give an appraisal. No comps. inaccurate tax records. I contacted the county and they told me I had to get a new boundry survey which I have ordered but the appraiser will be out here this week. Any suggestions?