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Estimating Net Realizable Value for Distressed Real Estate

James D. Shilling (jshilling@bus.wisc.edu), John D. Benjamin and C.F. Sirmans
Additional contact information
James D. Shilling: Department of Real Estate and Urban Land Economics School of Business University of Wisconsin, Madison Madison, Wisconsin 53706, http://wiscinfo.doit.wisc.edu/realestate/
John D. Benjamin: Department of Insurance and Real Estate College of Business Administration Pennsylvania State University University Park, Pennsylvania 16802, http://www.smeal.psu.edu/ire/index.html
C.F. Sirmans: Department of Finance Louisiana State University Baton Rouge, Louisiana 70803, http://www.finance.lsu.edu/

Journal of Real Estate Research, 1990, vol. 5, issue 1, 129-140

Abstract: This paper provides a framework for adjusting distressed real estate properties for liquidating discounts. We estimate the probability of receiving an offer on a property in any particular short interval of time. Our empirical evidence allows us to predict the average rate at which offers will occur in any particular interval of time. Further, it allows us to arrive at an estimate of net realizable value, adjusted for selling expenses.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1990
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Citations: View citations in EconPapers (43)

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