"Every real estate developer everywhere does this" says Kevin O'Leary reacts to Trump civil fraud case

[tahuyaman]

He lied concerning the size. He tripled the size. Size is size is size..

You don’t get it…….

• Market Value: What a buyer will pay (This is what Trump used for valuing his Mar-a-Largo property) Which was
• Appraised value: A home appraisal is an objective, third-party assessment of a home’s market value.
• Assessed value is a figure local governments use to determine property tax.

 

[tahuyaman]

I've addressed this 20 times. Banks are as corrupt as Trump.

The laws were put in place to protect the taxpayers, not the banks.

That’s dumb. They don’t make loans when the loan amount isn’t backed up by something real.

 

[healthmyths]

He lied concerning the size. He tripled the size. Size is size is size..

What did he triple? Now are you talking about Mar-a-Largo which I was sharing the facts.
Now his place in NYC where it was 10,000 sq ft which was reported by Trump's document as 30,000 sq feet I haven't seen the actual version because technically sq ft doesn't include the steps of stairs. Or what kind of utilities take up sq feet. So there maybe 10,000 sq ft but the actually shell of the building was 30,000 sq ft.
Now Forbes reported in 2017 that Trump had been lying about the size of his penthouse, claiming it was 33,000 square feet and that he “own[ed] the top three floors” of Trump Tower. New York City records showed Trump’s apartment to be 10,996 square feet, occupying sections of floors 66 to 68 of the skyscraper and sharing the rest of the space with a neighbor and “common elements,” such as hallways and elevators, that residents collectively own through the building’s condo association. (The Trump Organization did not comment to Forbes on the story.)

Ex-Trump Org CFO Knew Size Of Trump’s Penthouse Was Inflated, He Testifies

Forbes previously exposed Trump’s Manhattan triplex as 10,996 square feet—roughly a third of how big Trump claimed it was.

www.forbes.com

 

[pknopp]

That’s dumb. They don’t make loans when the loan amount isn’t backed up by something real.

And yet they do and more than once the taxpayers were stuck holding the bag.

Trump claimed his apt was 30,000 feet when it was 11,000 feet. No way around that. Illegal whether the banks went with it or not.

 

[pknopp]

What did he triple? Now are you talking about Mar-a-Largo which I was sharing the facts.
Now his place in NYC where it was 10,000 sq ft which was reported by Trump's document as 30,000 sq feet I haven't seen the actual version because technically sq ft doesn't include the steps of stairs. Or what kind of utilities take up sq feet. So there maybe 10,000 sq ft but the actually shell of the building was 30,000 sq ft.
Now Forbes reported in 2017 that Trump had been lying about the size of his penthouse, claiming it was 33,000 square feet and that he “own[ed] the top three floors” of Trump Tower. New York City records showed Trump’s apartment to be 10,996 square feet, occupying sections of floors 66 to 68 of the skyscraper and sharing the rest of the space with a neighbor and “common elements,” such as hallways and elevators, that residents collectively own through the building’s condo association. (The Trump Organization did not comment to Forbes on the story.)

Ex-Trump Org CFO Knew Size Of Trump’s Penthouse Was Inflated, He Testifies

Forbes previously exposed Trump’s Manhattan triplex as 10,996 square feet—roughly a third of how big Trump claimed it was.

www.forbes.com

Illegal. Fraud.

 

[healthmyths]

And yet they do and more than once the taxpayers were stuck holding the bag.

Trump claimed his apt was 30,000 feet when it was 11,000 feet. No way around that. Illegal whether the banks went with it or not.

Illegal to who? Prove to me the law that says I think it's 30,000 feet and you think it's 11,000 feet? Where is that against the law?

 

[healthmyths]

Illegal. Fraud.

What is illegal? Show me the exact law that says overestimating sq ft. is illegal? Why?

Trial Document: Trump Acknowledged Penthouse Size at 11,000 Square Feet, not 30,000 He Later Claimed

Donald Trump signed a document 30 years ago that gave the true size of his New York penthouse that was later listed as far larger on his financial statements, according to evidence shown Tuesday at the former president's civil business fraud trial. The evidence appeared in an email attachment...

www.voanews.com

But in any event, he said, he didn't pay much mind to the apartment's size because its value amounted to a fraction of Trump's wealth.

"I never even thought about the apartment. It was de minimis, in my mind," Weisselberg said, using a Latin term that means, essentially, too small to care about.
So for example:
Meanwhile, the average price per square foot ranges from $1,380 for a studio to $2,959 for 4+ bedroom apartments

Average Manhattan, New York Apartment Prices - Weimin Tan Blog

Manhattan condo apartment average cost and prices per sqft by apartment sizes, summarized by top New York property agent, Wei Min Tan.

www.castle-avenue.com

So 33,000 X $2,959/sq.ft. equals $97,647,000
So 10,000 X $2,959/sq.ft. equals 29,590,000
Difference of $68,057,000 or of a $3.5 billion personal wealth or 2%.
What's the issue?

 

[pknopp]

Illegal to who? Prove to me the law that says I think it's 30,000 feet and you think it's 11,000 feet? Where is that against the law?

The judge already has. I don't have to prove squat to you.

 

[tahuyaman]

And yet they do and more than once the taxpayers were stuck holding the bag.

Trump claimed his apt was 30,000 feet when it was 11,000 feet. No way around that. Illegal whether the banks went with it or not.

I give up. These liberals are just a gaggle of partisan hacks who’s brain was broken by Trump

 

[healthmyths]

The judge already has. I don't have to prove squat to you.

NO you don't have to prove it. As your LACK of any proof shows what a f...king LIAR YOU ARE! Why do you think just because you say so it is true? That's such a pompous and ignorant statement.
Show me the law that he found Trump guilty of violating?

 

[Rawley]

So, just wondering if the "everyone does it" defense has worked for anyone beyond the age of 6 or 7?

It's actually a well established defense.

United States v. Armstrong, 517 U.S. 456 (1996)

United States v. Armstrong: To show selective prosecution, an individual must show that a prosecutorial policy had both a discriminatory purpose and a discriminatory effect. In other words, they must show that prosecutors did not charge similarly situated people of other races.

supreme.justia.com

 

[Robert W]

I know banks are in on the fraud. But guess who deregulated them? Their cronies like Trump & the Republican Party who's pockets are being lined by Wall St. banksters.

They were not deregulated. In fact look up Dodd Frank for added regulations put on the lenders and their customers.

 

[justoffal]

So what? O'Leary just blew the whistle that the real estate market is run by developers who are all committng fraud, along with Wall St. banksters. So Trump should be let off the hook?

Should we let all drug dealers & drug lords off the hook because most of them are getting away with it?

Nope....not fraud....nobody is holding a gun to the loan officer's head. This is the key mechanism money movement in the economy. It's not just real estate though real estate is a major component.

Watch and learn....the case will die because it has to.

 

[SavannahMann]

Watch Kevin O'Leary reaction to Trump's New York civil fraud case by the CNN reporter:


"Well, let's leave out Trump for a minute, and let's leave out politics, and just talk about what happens in real estate development anywhere.
So, if you're a developer and you've got a building on the block, anywhere in America, and it's worth, let's say, $500 million, and you want to build a building right beside it, you go to the bank and say, "This building is worth $500 million. I'd like to borrow a construction finance loan against this asset, and I want you to tell me it's worth $500 million too."
And by the way, forget about Trump, every single real estate developer everywhere on earth does this.
They always talk about their asset being worth a lot and the bank says no. That's just the way it is.
So in this case, what I'm trying to figure out, and I'm not pro or con, or I don't care about the politics, who lost money?
Nobody. The bank got paid back the construction finance loan, and a new building was built.

And O'Leary goes on...
If you're going to sue this case and win, you've gotta sue every real estate developer everywhere. This is all they do.
This is what they do all day long every day.
So I don't think this thing will ever survive appeal regardless of what the fine is. This doesn't even make sense.

Now Those of you that aren't aware of this, let's put this into something you can comprehend.
In Dallas, Texas this property has a Zillow Market value of as high as $29.36M...

But the city of Dallas says the "Taxable Value" value for tax appraisal for the city, School,College, Hospital,

View attachment 887755

So as O'Leary states... "Every real estate developer everywhere does this':
Market value:

Real Estate & Homes For Sale - 45844 Homes For Sale | Zillow

Zillow has 45844 homes for sale. View listing photos, review sales history, and use our detailed real estate filters to find the perfect place.

www.zillow.com

Start now Home value Zestimate $21,745,900 Zestimate range $15.87M - $29.36M Last 30-day change
Highest Market value of this property: $29,360,000
Tax value of this property: the most: $18,923,660
A 64% of market value...

So in the Trump case using the same ratios Trump has done as O'Leary says..
"every single real estate developer everywhere on earth does this. "

Isn’t that like everyone who gets caught speeding claiming it isn’t fair, everyone was speeding? You are admitting you broke the law, and claim it isn’t fair because everyone broke the law and didn’t get busted.

 

[healthmyths]

Isn’t that like everyone who gets caught speeding claiming it isn’t fair, everyone was speeding? You are admitting you broke the law, and claim it isn’t fair because everyone broke the law and didn’t get busted.

In summary since people like you have a grade schooler attention span:
Here are 10 laws that you may have broken for sure one law... "In Maryland, it’s illegal to swear while driving
2ndly here are the FACTS about the totally ignorant valuation by the Trump NY lawsuit specifically regarding Mar-a-Largo which is "VALUED" by real estate sales in Palm Beach Florida...one sale less than 1 mile from Mar-a-Largo for $31 million per acre, i.e. Mar-a-Largo is 17 acres or at the sale price of the 2 acres, Mar-a-Largo is valued at $539,169,875 not the $18 million the truly ignorant judge declared.
AND YOU Savanna!!! If you own a home find out what the Market value is versus the "appraised" value for tax purposes!

10 Outdated Laws That You Might Have Broken

Have you broken any of these outdated laws? These states could use a little contract analysis to update old legislation that is still on the books.

blog.linksquares.com

10 Outdated Laws That You Might Have Broken​

1. In Arkansas, it’s illegal to mispronounce the state’s name.
2. In Connecticut, a pickle cannot be sold unless it bounces.
3. In Indiana, black cats are required to wear bells around their necks on Friday the 13th.
4. In Maryland, it’s illegal to swear while driving
5. In New Jersey, it’s illegal to commit a violent crime while wearing a bulletproof vest.
6. In Oklahoma, it's illegal to wrestle a bear.
7. In Rhode Island, it’s illegal to impersonate an auctioneer.
8. In Gainesville, Georgia, it’s illegal to eat fried chicken with a knife and fork.
9. In the University Hill section of Boulder, Colorado, it’s illegal to put upholstered furniture on your porch
10. Finally, if you’re a fan of dairy, in Wisconsin, butter and cheese are required to be “highly pleasing.

Finally...
"A home's fair market value is, in a nutshell, the price that a buyer would pay a seller in an open market.
Many factors go into determining it, including location, size, age, condition and the prices of nearby comparable homes.
Real estate agents use fair market value to help determine pricing strategies for homes, while home appraisers use it to determine their appraisals as well."

Fair Market Value: What It Is, How It's Calculated | Bankrate

The fair market value of a home, based on the price buyers would be willing to pay, is an important factor in real estate.

www.bankrate.com

In all the loans that Trump's NY lawsuits... the value of the loans were based on the law:
A home's fair market value is, in a nutshell"

The most ludicrous and IGNORANT example of Judge Engoron's statement regarding Mar-a-Largo value:
Siding with New York’s attorney general in a lawsuit accusing Trump of grossly overvaluing his assets, Judge Arthur Engoron found that Trump consistently exaggerated Mar-a-Lago’s worth. He noted that one Trump estimate of the club’s value was 2,300% times the Palm Beach County tax appraiser’s valuations, which ranged from $18 million to $37 million.

What the real estate EXPERTS in Florida say:
“Ludicrous,” agent Liza Pulitzer said about the judge citing the county’s tax appraisal as a benchmark. Homes a tenth the size of Mar-a-Lago on tiny inland lots sell for that in the Town of Palm Beach, a wealthy island enclave.

“The entire real estate community felt it was a joke when they saw that figure,” said Pulitzer, who works for the firm Brown Harris Stevens.

“That thing would get snapped up for hundreds and hundreds of millions of dollars,” said Rob Thomson, owner of Waterfront Properties and a Mar-a-Lago member. “There is zero chance that it’s going to sell for $40 million or $50 million.”

Is Mar-a-Lago worth $1 billion? Trump's winter home valuations are at the core of his fraud trial

How much is Donald Trump’s Mar-a-Lago worth? That’s now a point of contention after a New York judge ruled that the former president exaggerated the Florida property’s value when he said it is worth at least $420 million.

apnews.com

FACT which truly uninformed and ignorant people like Engoron's statement don't seem to be aware of!

How judge's 'absurd' $18M Mar-a-Lago pricetag compares to recent sales

A judge has said Donald Trump's 58-bedroom Mar-a-Lago estate is worth around $18 million. Earlier this year, a five-bedroom property less than a mile away sold for $63,431,750.

www.dailymail.co.uk

Less than a mile away(From Trump's Mar-a-Largo's 17 acres), one of Trump's neighbors on the sun-soaked strip dubbed 'billionaire's row' recently sold their comparatively modest home at 845 S County Road. The mansion has five bedrooms, nine bathrooms and sits on a two-acre lot. The property changed hands on May 22 for $63,431,750 - more than triple Mar-a-Lago's supposed price tag.

Hmmm so 2 acres sold for $31,715,875 per acre or $63,431,750.
OK... Using that market value of $31,715,875 X 17 acres of Mar-a-Largo equals $539,169,875 .

NOTE: Between 2011 and 2021, those documents stated that Mar-a-Lago was worth between about $350 million and $740 million.

Trump fraud trial judge says there's 'no mistake' the former president's Mar-a-Lago price-tag was 'fraudulent'

Trump's fraud-trial judge Arthur Engoron took a shot at Trump's wildly-inflated claims of Mar-a-Lago's worth in a $364 million verdict.

www.businessinsider.com

 

[SavannahMann]

In summary since people like you have a grade schooler attention span:
Here are 10 laws that you may have broken for sure one law... "In Maryland, it’s illegal to swear while driving
2ndly here are the FACTS about the totally ignorant valuation by the Trump NY lawsuit specifically regarding Mar-a-Largo which is "VALUED" by real estate sales in Palm Beach Florida...one sale less than 1 mile from Mar-a-Largo for $31 million per acre, i.e. Mar-a-Largo is 17 acres or at the sale price of the 2 acres, Mar-a-Largo is valued at $539,169,875 not the $18 million the truly ignorant judge declared.
AND YOU Savanna!!! If you own a home find out what the Market value is versus the "appraised" value for tax purposes!

10 Outdated Laws That You Might Have Broken

Have you broken any of these outdated laws? These states could use a little contract analysis to update old legislation that is still on the books.

blog.linksquares.com

10 Outdated Laws That You Might Have Broken​

1. In Arkansas, it’s illegal to mispronounce the state’s name.
2. In Connecticut, a pickle cannot be sold unless it bounces.
3. In Indiana, black cats are required to wear bells around their necks on Friday the 13th.
4. In Maryland, it’s illegal to swear while driving
5. In New Jersey, it’s illegal to commit a violent crime while wearing a bulletproof vest.
6. In Oklahoma, it's illegal to wrestle a bear.
7. In Rhode Island, it’s illegal to impersonate an auctioneer.
8. In Gainesville, Georgia, it’s illegal to eat fried chicken with a knife and fork.
9. In the University Hill section of Boulder, Colorado, it’s illegal to put upholstered furniture on your porch
10. Finally, if you’re a fan of dairy, in Wisconsin, butter and cheese are required to be “highly pleasing.

Finally...
"A home's fair market value is, in a nutshell, the price that a buyer would pay a seller in an open market.
Many factors go into determining it, including location, size, age, condition and the prices of nearby comparable homes.
Real estate agents use fair market value to help determine pricing strategies for homes, while home appraisers use it to determine their appraisals as well."

Fair Market Value: What It Is, How It's Calculated | Bankrate

The fair market value of a home, based on the price buyers would be willing to pay, is an important factor in real estate.

www.bankrate.com

In all the loans that Trump's NY lawsuits... the value of the loans were based on the law:
A home's fair market value is, in a nutshell"

The most ludicrous and IGNORANT example of Judge Engoron's statement regarding Mar-a-Largo value:
Siding with New York’s attorney general in a lawsuit accusing Trump of grossly overvaluing his assets, Judge Arthur Engoron found that Trump consistently exaggerated Mar-a-Lago’s worth. He noted that one Trump estimate of the club’s value was 2,300% times the Palm Beach County tax appraiser’s valuations, which ranged from $18 million to $37 million.

What the real estate EXPERTS in Florida say:
“Ludicrous,” agent Liza Pulitzer said about the judge citing the county’s tax appraisal as a benchmark. Homes a tenth the size of Mar-a-Lago on tiny inland lots sell for that in the Town of Palm Beach, a wealthy island enclave.

“The entire real estate community felt it was a joke when they saw that figure,” said Pulitzer, who works for the firm Brown Harris Stevens.

“That thing would get snapped up for hundreds and hundreds of millions of dollars,” said Rob Thomson, owner of Waterfront Properties and a Mar-a-Lago member. “There is zero chance that it’s going to sell for $40 million or $50 million.”

Is Mar-a-Lago worth $1 billion? Trump's winter home valuations are at the core of his fraud trial

How much is Donald Trump’s Mar-a-Lago worth? That’s now a point of contention after a New York judge ruled that the former president exaggerated the Florida property’s value when he said it is worth at least $420 million.

apnews.com

FACT which truly uninformed and ignorant people like Engoron's statement don't seem to be aware of!

How judge's 'absurd' $18M Mar-a-Lago pricetag compares to recent sales

A judge has said Donald Trump's 58-bedroom Mar-a-Lago estate is worth around $18 million. Earlier this year, a five-bedroom property less than a mile away sold for $63,431,750.

www.dailymail.co.uk

Less than a mile away(From Trump's Mar-a-Largo's 17 acres), one of Trump's neighbors on the sun-soaked strip dubbed 'billionaire's row' recently sold their comparatively modest home at 845 S County Road. The mansion has five bedrooms, nine bathrooms and sits on a two-acre lot. The property changed hands on May 22 for $63,431,750 - more than triple Mar-a-Lago's supposed price tag.

Hmmm so 2 acres sold for $31,715,875 per acre or $63,431,750.
OK... Using that market value of $31,715,875 X 17 acres of Mar-a-Largo equals $539,169,875 .

NOTE: Between 2011 and 2021, those documents stated that Mar-a-Lago was worth between about $350 million and $740 million.

Trump fraud trial judge says there's 'no mistake' the former president's Mar-a-Lago price-tag was 'fraudulent'

Trump's fraud-trial judge Arthur Engoron took a shot at Trump's wildly-inflated claims of Mar-a-Lago's worth in a $364 million verdict.

www.businessinsider.com

You are still using the everybody breaks the law defense. The argument that if everyone does it then it isn’t really illegal. To prove your point you post ludicrous laws from the various states and towns. Idiocy.

The problem with that defense just like the speeder in traffic court is you are admitting guilt but saying it doesn’t really matter. You didn’t do anything really wrong.

The Judge in Traffic court finds you guilty. And that is what happened here.

This is an even dumber explanation than I didn’t know it was illegal. This excuse is the I knew it was wrong but did it because everyone does. Hell. Trump went one further. I knew it was wrong and did it anyway because everyone does, I just did it better which is why I’m so successful.

It is no different than the idiot in Traffic court. It isn’t fair that I got busted because everyone else got away with it.

You say short attention span. I say the truth simply. It is interesting that you need a thousand words to say Trump did it, but it really isn’t a crime since everyone does it.

Oh. And finally. If someone in Maryland is busted for swearing in their car, let me know. I’ll join you in objecting since the First Amendment protects what may be considered Vulgarities.

 

[Robert W]

So what? O'Leary just blew the whistle that the real estate market is run by developers who are all committng fraud, along with Wall St. banksters. So Trump should be let off the hook?

Should we let all drug dealers & drug lords off the hook because most of them are getting away with it?

No, and even Democrats admit it, the market is run by the Bankers. Bankers always protect themselves. Trump did nothing at all wrong. End of story.

 

[Robert W]

In summary since people like you have a grade schooler attention span:
Here are 10 laws that you may have broken for sure one law... "In Maryland, it’s illegal to swear while driving
2ndly here are the FACTS about the totally ignorant valuation by the Trump NY lawsuit specifically regarding Mar-a-Largo which is "VALUED" by real estate sales in Palm Beach Florida...one sale less than 1 mile from Mar-a-Largo for $31 million per acre, i.e. Mar-a-Largo is 17 acres or at the sale price of the 2 acres, Mar-a-Largo is valued at $539,169,875 not the $18 million the truly ignorant judge declared.
AND YOU Savanna!!! If you own a home find out what the Market value is versus the "appraised" value for tax purposes!

10 Outdated Laws That You Might Have Broken

Have you broken any of these outdated laws? These states could use a little contract analysis to update old legislation that is still on the books.

blog.linksquares.com

10 Outdated Laws That You Might Have Broken​

1. In Arkansas, it’s illegal to mispronounce the state’s name.
2. In Connecticut, a pickle cannot be sold unless it bounces.
3. In Indiana, black cats are required to wear bells around their necks on Friday the 13th.
4. In Maryland, it’s illegal to swear while driving
5. In New Jersey, it’s illegal to commit a violent crime while wearing a bulletproof vest.
6. In Oklahoma, it's illegal to wrestle a bear.
7. In Rhode Island, it’s illegal to impersonate an auctioneer.
8. In Gainesville, Georgia, it’s illegal to eat fried chicken with a knife and fork.
9. In the University Hill section of Boulder, Colorado, it’s illegal to put upholstered furniture on your porch
10. Finally, if you’re a fan of dairy, in Wisconsin, butter and cheese are required to be “highly pleasing.

Finally...
"A home's fair market value is, in a nutshell, the price that a buyer would pay a seller in an open market.
Many factors go into determining it, including location, size, age, condition and the prices of nearby comparable homes.
Real estate agents use fair market value to help determine pricing strategies for homes, while home appraisers use it to determine their appraisals as well."

Fair Market Value: What It Is, How It's Calculated | Bankrate

The fair market value of a home, based on the price buyers would be willing to pay, is an important factor in real estate.

www.bankrate.com

In all the loans that Trump's NY lawsuits... the value of the loans were based on the law:
A home's fair market value is, in a nutshell"

The most ludicrous and IGNORANT example of Judge Engoron's statement regarding Mar-a-Largo value:
Siding with New York’s attorney general in a lawsuit accusing Trump of grossly overvaluing his assets, Judge Arthur Engoron found that Trump consistently exaggerated Mar-a-Lago’s worth. He noted that one Trump estimate of the club’s value was 2,300% times the Palm Beach County tax appraiser’s valuations, which ranged from $18 million to $37 million.

What the real estate EXPERTS in Florida say:
“Ludicrous,” agent Liza Pulitzer said about the judge citing the county’s tax appraisal as a benchmark. Homes a tenth the size of Mar-a-Lago on tiny inland lots sell for that in the Town of Palm Beach, a wealthy island enclave.

“The entire real estate community felt it was a joke when they saw that figure,” said Pulitzer, who works for the firm Brown Harris Stevens.

“That thing would get snapped up for hundreds and hundreds of millions of dollars,” said Rob Thomson, owner of Waterfront Properties and a Mar-a-Lago member. “There is zero chance that it’s going to sell for $40 million or $50 million.”

Is Mar-a-Lago worth $1 billion? Trump's winter home valuations are at the core of his fraud trial

How much is Donald Trump’s Mar-a-Lago worth? That’s now a point of contention after a New York judge ruled that the former president exaggerated the Florida property’s value when he said it is worth at least $420 million.

apnews.com

FACT which truly uninformed and ignorant people like Engoron's statement don't seem to be aware of!

How judge's 'absurd' $18M Mar-a-Lago pricetag compares to recent sales

A judge has said Donald Trump's 58-bedroom Mar-a-Lago estate is worth around $18 million. Earlier this year, a five-bedroom property less than a mile away sold for $63,431,750.

www.dailymail.co.uk

Less than a mile away(From Trump's Mar-a-Largo's 17 acres), one of Trump's neighbors on the sun-soaked strip dubbed 'billionaire's row' recently sold their comparatively modest home at 845 S County Road. The mansion has five bedrooms, nine bathrooms and sits on a two-acre lot. The property changed hands on May 22 for $63,431,750 - more than triple Mar-a-Lago's supposed price tag.

Hmmm so 2 acres sold for $31,715,875 per acre or $63,431,750.
OK... Using that market value of $31,715,875 X 17 acres of Mar-a-Largo equals $539,169,875 .

NOTE: Between 2011 and 2021, those documents stated that Mar-a-Lago was worth between about $350 million and $740 million.

Trump fraud trial judge says there's 'no mistake' the former president's Mar-a-Lago price-tag was 'fraudulent'

Trump's fraud-trial judge Arthur Engoron took a shot at Trump's wildly-inflated claims of Mar-a-Lago's worth in a $364 million verdict.

www.businessinsider.com

Myself, who was more than an appraiser, but also the owner of a respected appraisal firm, plus another appraiser who is also an expert appraiser, agree with pretty much what is said above. Trump is not guilty. And his banks would never have loaned funds were they thinking the property was over priced. The tax assessor really is not a good appraiser at all.

 

[justoffal]

Isn’t that like everyone who gets caught speeding claiming it isn’t fair, everyone was speeding? You are admitting you broke the law, and claim it isn’t fair because everyone broke the law and didn’t get busted.

Nope it's not anything like that.
Real estate valuation is a fuzzy logic subject because it needs to be. If you remove the versatility and flexibility in the valuation process.... Something is actually impossible to do anyway.... You basically put the brakes on all money movement which will then very probably create another 2008 money correction catastrophe.

It's not just real estate though. Banks are used 24/7 to move goods and services around the world with short-term loans based on the viability and valuation of the things that are being serviced or moved like food for instance.

Big grocery chains put in periodic quotes for money needs on a short-term basis paid back with interest of course to gain access to shipments of goods which eventually end up on their shelves.

If you create a situation where everything has to be valued to the penny by some pre-approved valuation authority the process will die.

As far as Trump exaggerating about the square footage and size of his property That is irrelevant because nothing happens until the bank sends out an appraisal company that measures everything and double checks all the claims made in the original application. Trump didn't pull the wool over anybody's eyes especially not the bank.

 

[justoffal]

Myself, who was more than an appraiser, but also the owner of a respected appraisal firm, plus another appraiser who is also an expert appraiser, agree with pretty much what is said above. Trump is not guilty. And his banks would never have loaned funds were they thinking the property was over priced. The tax assessor really is not a good appraiser at all.

Well said .... And I don't see anybody stepping forward to question your credentials after having quoted your rather extensive experience in the subject.