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?
Pray the appraiser is blind
It's out of your hands for the most part. Sorry to say, but your at the mercy of the market
But make sure your landscaping is on point and that it showcases the best parts of the properties.
I've heard of providing list of repairs,old appraisals or some of the good comps I found. Do you recommend any of these?