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Updated almost 3 years ago,
Residential or Commercial appraisal for small multifamily?
I have brrrr'd two duplexes from full gut renovation to above rental grade finish apartments. We have received unfavorable commercial appraisals on the refinance compared to what similar properties are selling for in the market. Would it make more sense to get residential appraisals on these types of properties so we can be valued by the comparison approach rather than income approach? I have a triplex im getting ready to refinance and dont want to make the same mistake again. Has anyone experienced the same problem?