Updated almost 3 years ago on . Most recent reply
Appraisal Company based property value off of Pro Forma?
Currently in negotiations to purchase an off market 5+ unit apartment. The owner provided the T-12 and rent roll, but wanted to hire a local commercial appraisal company to get an idea of what he should sell the property for. The appraisal company calculated the appraisal based off of their own pro-forma instead of the actual T-12, which increased the value of the property and his asking price.
Is this common in the current market?