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My property consists of 19 acres, with good house improvements, and has been suitable for a reverse mortgage as there have been 2 reverse mortgages previously completed and paid off. To complete a Jumbo Reverse Mortgage, the appraiser must now consider the highest & best use for land subdivision. The land could be subdivided into 12 house lots, creating a very high market value price. In a reverse mortgage appraisal, can the Income Approach be used to evaluate the sale potential to a subdivision developer? The Sales Comparison Approach cannot verify the actual & true high market value because there are no good comps in my area, and my property cannot be compared to any similar properties due to its uniqueness and size.

Joe C. on 12.26.2018
Michael G. Branson Michael G. Branson, CEO of All Reverse Mortgage, Inc., and moderator of ARLO™, has 45 years of experience in the mortgage banking industry. He has devoted the past 20 years to reverse mortgages exclusively. (License: NMLS# 14040)
Cliff Auerswald All Reverse Mortgage's editing process includes rigorous fact-checking led by industry experts to ensure all content is accurate and current. This article has been reviewed, edited, and fact-checked by Cliff Auerswald, President and co-creator of ARLO™. (License: NMLS# 14041)