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Duplex appraised using single family comps?
I just received the appraisal for a duplex under contract. The appraisal was approx. 8% over the sell price, but I realized they classified it as a single family and used single family comps. Its zoned multifamily (actually Res with commercial use) with a business office on the first floor and an apartment on the second. I think it may appraise a little higher when compared to other duplexes in the area. Is it normal practice to appraise a duplex as a single family?