appraised or assesed?

[pinpoint 0]

on I-134 question 7, they ask ..real estate valued at? do i use the appraised value or assesed value, theres a big difference - thanks - pin

[YuAndDan 153]

Note you do not need to list assetts if your income is more than 125% poverty line. First see how much you make then start listing assets if you need to show them to make up the difference.

I make 45,000 per year so I wont bother listing any assets, less documentation, I will use tax forms, pay stubs, letter from employer, and letter from bank.

[pinpoint 0]

thank Yu

[YuAndDan 153]

thank Yu

Yes the I-134 is not too clear but when reading I saw lots of examples where assets, bank account were listed as a zero. just show annual salary.

Sometimes it is easier to just keep it simple. Look at the I-864EZ, no assets shown at all on that form, so I will use that one when it comes to the time of AOS.

Good luck!

[Yodrak 7]

pinpoint,

Neither - current market value. A recent appraised value is likely to be closer than the assessed value.

Yodrak

on I-134 question 7, they ask ..real estate valued at? do i use the appraised value or assesed value, theres a big difference - thanks - pin

[kitkat1 5]

Yodrak,

Do you know anything about the requirement to "prove" current market value? Does this mean a real estate agent can simply indicate what they would list the property for or are comparable recent sale price reports in the neighborhood or condo sufficient? For example, my condominium association provides a quarterly report of recent sales in the building - I've been wondering if highlighting the sale price of comparable units would be enough?

Thanks for your thoughts.

pinpoint,

Neither - current market value. A recent appraised value is likely to be closer than the assessed value.

Yodrak

on I-134 question 7, they ask ..real estate valued at? do i use the appraised value or assesed value, theres a big difference - thanks - pin

[Yodrak 7]

kitkat,

No, I don't know. All I know is that most everything about determining whether or not a visa applicant meets the public charge provisions of the law is highly subjective. (And I believe that most consular officers are reasonable people.)

I think your thought of using the the condo association's quarterly report is an excellent idea. It can be awkward to argue that the market value of a property is other than what was recently paid for the property on the open market. Remember that what the consular officer evaluating your finances is most concerned with is how much cash can you lay your hands on if you should need it. (But remember also that I'm not the person processing your visa application!)

(In explanation of my previous post, I learned from the process of closing and distributing my late mother's estate that there are differences between an appraisal and a market valuation, and that the resulting figures can be different. I don't know the details, however, it was my brother who was the executor of the estate and who had to deal with those issues.)

Yodrak

Yodrak,

Do you know anything about the requirement to "prove" current market value? Does this mean a real estate agent can simply indicate what they would list the property for or are comparable recent sale price reports in the neighborhood or condo sufficient? For example, my condominium association provides a quarterly report of recent sales in the building - I've been wondering if highlighting the sale price of comparable units would be enough?

Thanks for your thoughts.

pinpoint,

Neither - current market value. A recent appraised value is likely to be closer than the assessed value.

Yodrak

on I-134 question 7, they ask ..real estate valued at? do i use the appraised value or assesed value, theres a big difference - thanks - pin

Edited September 8, 2006 by Yodrak