RE: what about property tax appraisal agency, if they generate an incorrect valuation?
Tell me about it. Long Island ( where I live ), has a convoluted system of property appraisals where your home is ALWAYS valued by the county VERY HIGHLY for the purpose of paying higher property taxes ( which is one of the highest in the nation I pay about $14,000 a year for your reference ).
The only remedy here is to make use of the GRIEVANCE SYSTEM put in place that allows you to hire property tax lawyers to help you GRIEVE your taxes and when successful, you pay the lawyer a small percentage.
This convoluted system has been going on for YEARS.
The point is — property valuation is NOT a science and anybody ( much less Letitia James ) who claims that he or she KNOWS better then the banks or the professional appraiser or THE MARKET how much a property is worth is delusional, evil or both ( I vote BOTH when it comes to Trump’s case ).
Correct property valuation is not a science, thanks to Letitia James it’s the law now! If I lived in NYC I would sue if any shortfall when selling a house. Also how about deducting the shortfall on your taxes as a loss or better yet their! This is the only way to stop the lies and insanity!