 Or you can just not show it. Now, if you buy it and you record the deed at the lower price to your other question, it does not affect the value of the property whatsoever. If you buy a half-a-million-dollar house for $350,000, it does not make the half-a-million-dollar house worth $350,000. It makes it worth $500,000 because it was already worth $500,000. Appraisals aren't done based on what you pay for it. Appraisals are done based on what other properties in the area sold that are similar.