ARV based on Appraised value or comps?

[Andrea Tapp]

I am placing several offers in a specific neighborhood that has a $20,000 spread between the appraised value of the condos and comps (that are older then 1 year, there are not new comps for completely fixed up condos). I am trying to set my ARV to make offers. I have had 3 separate owners come to me now with appraisalsthat have been completed within the past year and they are showing that the condos are valued at $20,000 more then what I can find houses have sold for. But the trick here is that the comps on these condos in this area are older then a year old.

Would you all base your ARV on old comps or new appraisal numbers?

Thankyou!