Last spring, I had a purchaser make a proposal on a condo for the seller’s asking worth the day it went in the marketplace. It was an open market sale, and there had been a foreclosure in the building six months earlier. However, there have been different current comparable sales close by to support this newly renovated home’s asking value. Even so, the appraiser hired by the AMC centered on the foreclosure in addition to other distressed sales that weren’t comparable. In truth, she appraised the property for $100K less than the asking worth.
