Updated over 7 years ago on . Most recent reply
Appraisal/Refinance - Duplex & 4plex - Tulsa
Has anyone recently refinanced a duplex or 4plex in Tulsa? I am in the process of refinancing one of each and just wanted to hear what others have experienced as far as how the appraiser went about determining the value. There aren't many of these types of properties in Tulsa and it seems like most people hold on to them once they have them. The few that have sold were in such disrepair when they were purchased that they don't provide any useful data to determine the value of a completely remodeled property. I have also heard that for a unit this size the appraiser will not use rental income to determine the value. I'd love to hear what others have experienced going through this process.
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Not in Tulsa @Bobby Spurlock but I recently attempted to refinance a duplex. Very disappointed as the bank's chosen appraiser pulled 2 comps from a different county (worse as far as school systems, property value) etc. I even went through the appeal process and provided comps in the same neighborhood to no avail. Hope you have better luck!