Updated over 6 years ago on . Most recent reply
Commercial Appraisal Question
Hello!
I have been following my local and adjacent counties backed property taxes notices. Long story short over the last 4 month I have contacted the florida owner of a michigan apartment building. It is a 20 unit (half 1 bed half 2 bed). Beatiful stone building that was an old medical building converted to multi family.
I am BRAND new to this. Trying to find deals while working and this one is the first to have real potential. The owner gave a ballpark figure he would be willing to sell for but my question is this, can I pay for an appraisal without being in a contract and unannounced to the seller to find what the true value of the property is? This way I can create an offer I am confident will build wealth?
This is a full Reno. Total gut. Potential to need new septic, HAVC, and plumbing. Structure Is good though.