Real Estate Roundup

Home Appraisal Fraud Joseph and Kimberli bought an unimproved lot in a subdivision and then engaged an architect and a contractor to design and build the home of their dreams on it. The lot and finished home together would cost them about $731,000. They borrowed most of the sales price from a bank, which sought and obtained an appraisal from an appraiser regularly used by the bank. Conveniently enough, the appraisal came in at about $731,000 when conducted under both a cost approach and a sales comparison approach. After the couple had been in their new house about a year, Kimberli lost her job and the couple went back to the hank to … [Read more...]

Filed Under: News Tagged With: Real Estate Fraud

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Real Estate Roundup

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The Attorneys of the Law Offices of A.J. Glassman specialize in Contingency Cases including Personal Injury, Business, Employment and Real Estate Disputes including Litigation and Defense.