I have a question concerning conflicting appraisals involving a section 30 expropriation by the City of Calgary.
How is it that two appraisals, both done by licenced, accedited AIC people, can each produce an appraisal, with the same DATE OF TAKING , using 'market value' as the value to be determined.....
and one comes in at $390K and the other at $635K...
and my problem is that both are still selling their services, and in this story, I am out about $250K.
any suggestions as to the recourse I have?
shall I sue the appraisers for wasting my time relying on their documents?
Appraisal is an art, not a science. The large gap between the two appraisal opinions you received does not necessarily lead to the conclusion that mistakes were made. However, if you think that one or more of your appraisers did not do a proper job you should contact a lawyer for advice as to your legal remedies.
In my opinion one of the appraisers probably did not due their job. They should not be out that much. Read through the appraisals and determine which one is legitimate and which one isnt. Then report the poor report to the AIC.