Desktop appraisal on 6 unit

[Emily Rolando]

Hi there,

Im working with a local community bank to finance a 6 unit property. Appraisals are pretty backed up in the area and their process was taking awhile in general. They went ahead and did a 'desktop' appraisal through a company they use and I only found out about this after they did it. Is this bad for me overall? Less idea of overall appraised value or should I not worry about and keep on trucking through the process? Another lender who I have been talking to said she though the appraisal might come in tight for the sales price but she really wasn't super confident or rattling off lots of comps or data about it. Sales price seems in line with market sales but there aren't a whole ton of 6 units selling in the area. Should I pay $3500-5500 (recent 2 bid prices) for an appraisal just for my knowledge and potential negotiation if the appraisal came back low?