tips for good appraisal in bad neighborhood
hi-i had 6 properties ( 4plex, 2 duplexes and 3 sfhs all close together) on contract that I believe I received a good deal on. Only half of the units were rented and a few were in bad shape. I put in a lot of work and money to get units renovated and rented out. Now I have been approved for a blanket /commercial loan and lender has ordered appraisals. My goal is to pay seller off and capture equity but I am worried about where appraisals will come in at. In this neighborhood there's many foreclosures or properties that need work selling for less than I want mine to appraise for. Also I worry that appraiser will try to come contract price. Any tips for good appraisals?
Thanks