Real estate appraisal, effective date?

Paul Maymi: that is likely a clerical thing that theappraisal firm is not paying close attn to.YOU can 'politely' demand moreaccurate dating!!!

Brenton Cornwall: An appraisal can be made for any date.Previous date: Say you have a house that burned and was completely destroyed. An appraiser can go back to sales from that date and make a value based on comparables at the time that the insurance company whats it dated for.Current date: This is a typical appraisal that is usually the date that the house is inspected. If the research is done the next day, it is still the inspection date. This insures that the house didn't burn down as the appraiser left the area.Sounds far fetched, but appraisal dates in NY on and before 911 made a huge difference.Future date: This is to appraise something that isn't there; such as a new house under construction, a room addition, or a new garage that they need a loan to build. These are typically appraised off plans and specs.I hope this! helped....Show more

Adan Stribble: Sounds like it is trying to say that the appraisal will be done on ie. June 6th or before or on or after this date.