Multiple parcels with Duplex and commercial loan underwriting
Hi All
My apologies if my topic is redundant but I could not find anything resembling my situation through multiple searches. We have a property in NC under a contract that has four parcels. Each of the parcels has a duplex, as well as tax id and individual tax assessment. As we are talking to lenders, the feedback that I am getting is that each of the parcels should be appraised in excess or closer to $100k to consider for a portfolio loan. The property is in a Class B+ neighborhood and not rural. We have it under contract at 320k. My request for the BP community team to share your experience and thoughts on if you have encountered this and what are the things that you had done to overcome.
Thanks,
Ahmed