Bulk purchases RE how does it affect appraisal

[Eric O.]

We own a condo and someone just purchased 130 units for over $9 million in a single transaction. Before this, the comps in the development were between $80-90k for a similar condo. This bulk sale was for around $70k a unit. How will this latest bulk sale affect the appraisal of our condo? The bulk buyer will be forcing us to sale under Arizona Revised Statute 33-1228.

[Stanley Bronstein]

@Eric O. Make sure the appraisal is by someone independent. Also, argue that they received a discount because they were purchasing so many units at once. Also, if you have a specific number in mind, just wait and see what they provide you from an appraisal and then negotiate.