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Updated about 9 years ago,
Duplex Appraisal - Comps?
I am in the process of having a duplex refinanced in Ft. Wayne, IN. When I look online I see nearby duplexes that have sold at a price that would substantiate my value in the $180k-$200k range. However, those duplexes were split into 2 separate condos and sold individually for $95k-$100k each. I spoke to an appraiser and he said these are not eligible for use as comparable sales. Is this true? If not can you point me towards some official information that I can give to my appraiser?