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Updated about 10 years ago on . Most recent reply
- Real Estate Broker
- Columbus, OH
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How Would You Comp Two Properties on a Single Lot?
Contemplating a purchase of a property with a main house and a smaller back house...I would like to create an equity position, but have no idea how the property would be comped?...
Would the appraiser consider each house independently?
- Brandon Sturgill
- 614-379-2017
Most Popular Reply
@Brandon Sturgill What Sam said is right about if the second home is real living. Having legitimate permits is key. Earlier last year I bought a seller financed 2 home property. Both were permitted but I was told if one of the units burned down I would not be allowed to build another home because of the zoning. Another thing is if the property your looking at has a separate electric meter... don't assume it is permitted. As soon as that property changes ownership you could see a call from the city.... speaking form experience.
Frank