Appraisals (Hudson County, NJ)

[EDWARD M.]

I am in the process of purchasing a home, undergoing attorney review. I have one worry, as I am using non-conventional financing with 10% down. So I've seen homes in the area (Union City, NJ) that sold for under $125 thousand, 2-family. However, the subject property I offered $150 thousand for has a finished attic (more living space). Across the street from the home is Weehawken, with home values that are higher than that of homes in Union City. I'm wondering if it's possible for the subject property to appraise for $150 or more even though no property in the same town within a few block radius sold for $125 thousand or more. (USED EXAMPLE NUMBERS)