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Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 33713
Experience:  15 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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This money is in cds and he is leaving them in there for 6

Customer Question

This money is in cd's and he is leaving them in there for 6 months...that is what they tell us anyway. There is also land involved to and he had it appraised by a good friend of his and everything looks really high. We are splitting property up and everything he wanted looks low to me. What can we do about that?
Submitted: 3 years ago.
Category: Legal
Expert:  Barrister replied 3 years ago.
Hello again,
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Good, that means the money should be locked up for a while to avoid any penalties and loss of interest.
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If it were me, I would challenge the appraisals by getting a new one done by someone other than a "buddy" of the uncle. I have appraiser friends as well and can get them to lean one way or the other on pricing based on what best works for my client. Appraisers have a range from low to high that they can come in at based on what "comps" that they use for pricing.
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So I would be highly skeptical of a "buddy" appraisal when it benefits the person who wants to coincidentally buy the low priced property.
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Thanks.

Barrister

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If you need further help, just reply to me via the “REPLY” button and I will be happy to continue.

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I cannot enter into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

Customer: replied 3 years ago.

Thank you....I will be going to bank today and see if he is telling us the truth.

Expert:  Barrister replied 3 years ago.
Yeah, I hate to say it, but money and inheritances tend to bring out the worst in people so I would be skeptical of anything that was said until I verified it. The property appraisal thing definitely seems suspicious and depending on the value of the real estate, this could end up being a substantial loss to the other heirs if he is buying it below the realistic fair market value.
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Thanks.

Barrister

.

Please don't forget to rate my service "OK" or higher. It is only then that I receive credit for my work.

.

If you need further help, just reply to me via the “REPLY” button and I will be happy to continue.

.

I cannot enter into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

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