Study: inaccurate appraisals a common occurrence in commercial real estate market
On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Commercial Real Estate on Jul 27, 2012.
According to a recent study, faulty property appraisals-thought to be behind excessive purchase prices in various markets-may be a common occurrence in the commercial real estate market. The study, which used data from thousands of securitized real estate bonds in which properties were foreclosed and liquidated, found a substantially wide discrepancy between appraisal values and sales prices on properties examined.
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