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Updated over 9 years ago on . Most recent reply

User Stats

452
Posts
10
Votes
Michael Dunn
  • Olive Branch, MS
10
Votes |
452
Posts

Going across State Lines for Comparable properties ????

Michael Dunn
  • Olive Branch, MS
Posted

I have a question please, regarding an appraiser being able to go across stateliness, to find properties to run comparable sells against the property I am trying to purchase

the property I am trying to purchase is in Mississippi ( right near the TN state line )

Well, it's being deemed as a 2-unit multi-property by the most recent appraiser

He said that there are no other properties in the area for him to run comparables against, since no other similar/ 2-unit properties are anywhere in the area

Can't he find properties in Memphis,TN ( that is just 30 minutes away ) to run comparable sales against?

There are plenty of 2-unit and duplexes and multi-family properties in Memphis,TN that he could then use

And Lastly, even if he won't/can't use sold properties in another state to run comparables against.... couldn't he just use Three.... 3 bed and 2 bath properties and then deduct / add X amount of dollars to the Property that I'm trying to get ?

Thanks for all of the help, very much appreciate it  

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