Are appraisals rebuttable by a prospective purchaser?
If a prospective purchaser believes the appraised fair market value is incorrect, they may submit substantive data (e.g., comparable sales information) to the field office conducting the sale. Although this information may be reviewed by the DOIASD, the final determination is made by the DOIASD. A prospective purchaser may choose to not bid on a parcel if they believe the appraised fair market value is incorrect. Q: How are the land sales done? A: Competitive sales may be conducted through written sealed bids and/or through oral auctions. The minimum acceptable bid is the appraised value. The highest bidder takes the property. The public notice for each sale contains detailed information on the process and requirements for bidding for that sale. Properties that do not sell may be offered again at a future date without additional legal notice.
If a prospective purchaser believes the appraised fair market value is incorrect, they may submit substantive data (e.g., comparable sales information) to the field office conducting the sale. Although this information may be reviewed by the DOIASD, the final determination is made by the DOIASD. A prospective purchaser may choose to not bid on a parcel if they believe the appraised fair market value is incorrect.
