Seller listed 2 separate Quadplexes as 8-plex? Questions inside..
Seller listed two 4-plex units as an 8-plex and is selling as such. I'm wondering how this falls under appraisal and getting a loan? Would this be commercial since it's an 8-plex or would it still be residential since it is two 4-plexes? I'm just wondering if they did this because it wouldn't appraise high enough unless they can use their rents and CAP rate. Does anyone have any idea how to go about handling this if I want to proceed with an offer on it?