I'm looking for appraiser in Oklahoma city to appraise multi-family property. Any recommendation? Thanks in Advance.
@Jake Findi , I've worked with Kari Sloan in OKC. She primarily does single family but she might have a recommendation for multi-family.
@Ben Scott Thank you Ben.
@Jake Findi , what do you need a MF appraiser for?
There will be a HUGE difference between appraisers competent in the income approach to appraisals and those who are primarily using the comparable sales approach day to day. Most of the latter can appraise a 2-4 unit with competence and only the former would be able to play in the 5+ space or alternative assets arena with any credibility.
@Will Fraser Well, i agree with you, you can force the property appreciate in value just like that through value add components but this is when you change hands. I'm about to take down a multifamily property. In any case the lenders will do their appraisal. I just want to make sure i'm not over paying than it will be appraised for.
Yes indeed you can!
Hey @Jake Findi , I don't have any specific names, but just so you are aware, appraisers who do multi-families are pretty backed up, supply/demand type of situation. After going through a nightmare deal where the appraiser was asking for the moon and stars, we learned the appraisal company made a bunch of new hires due to the demand and we got stuck with a newbie. So do your research and find someone tried and true.
@Forrest Faulconer I'm sorry to hear that experience. I have taken your advise into account , thank you.