Real Estate

[fabrisse]

For some reason my mother decided that she and Sis (Sis is buying into this) need to sell their current homes and buy a new house together with a guest house for me.

There's more than a little "What the Fuck?" to this on my part (Dad doesn't swear, his is more a "What the Heck?", but it has the same force). We're working assiduously to quash this particular folie a deux. Since most of the places they've looked at have less square footage than my sister's place and the guesthouse are unpermitted, Dad and I think we have a good chance that it'll die a natural death anyway.

It occurs to me, however, that actually knowing something about how to read the results of a title search would be useful.

So, for anyone who knows anything about this... Is the value of the house (i.e. the probable amount the owner could get at sale) the sum of the assessed value and the improvement value? Is the land value included in the value of the house, or should I be adding it to the previous sum?

Comments

[jdulac.livejournal.com]

My sister had an independent appraisal when she refinanced, so that would probably be a better source.

that is exactly what you need, especially if it is relatively recent.