Updated over 6 years ago on . Most recent reply
Driving appraisal value above comps
Hi you guys -- how are people driving appraisal values above traditional comps? I'm seeing this happen -- four family is purchased for $180-$225K and following a very good rehab, appraises/sells for $400-$450K in an area where nothing else has sold for that. How?
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@Matt Ferch. If you rehab something to a condition, where nothing around it has those same conditions, appraisers can pull comps from miles away or the next town over. It happens. Easiest way to figure out what ARV would be is to talk to local appraisers