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How To Find Condo Owner In Manila?

Appraising a detached condo/PUD I find the owner has a ground lease of 99years-?

  • and pays taxes on the land, without recent sales of comparables what effect would this have on value- I dont think the average buyer is sophisticated enough for there to be a difference in value- what would you do in the report~ would you - or how would you address a long term ground lease appraising a condominium?

  • Answer:

    Check into book 1231545681~1 chapter 2

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My best answer is NONE in terms in the affect in may have on the value! BUT the value is NOT the problem he will run into, it's getting a lender to finance it! Unless of course he is going to pay cash for it, then there's no problem at all! But no doubt there's a lender out there somewhere, but not very many at all that would lend on leased land. As far as how to address it. On the very top page of the first page of the appraisal there are 3 options...It is where it says PROPERTY RIGHTS APPRAISED: "Fee simple", "Leasehold", and Other! He would simply just check the box for LEASEHOLD!

ALEGNA

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