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Updated over 9 years ago,
Going across State Lines for Comparable properties ????
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