Before I call the appraiser.

[Mike Garrett RAA]

And the direction in value was?

 

[Lawrence R.]

And the direction in value was?

Dunno, it all depends on how much you adjust for effecitve age!!!

 

[Mike Boyd]

I would say a 1074 for each side SUBJECT TO completion of the subdivision from a duplex to a condo. Are you sure it will be a condo and not an attached SFR? If an attached SFR then 2 1004s also subject to completion of the subdivision. Even though it is being split into only 2 units it is still a subdivision. The new "subdivision" will also need by laws and maintenance agreements.

If the bank is very liberal, and each unit is identical, one report may be adequate for their purpose.....but let the bank draw their own conclusion that they are equal in value.

I don't think they need an "as is" appraisal on both units together for the release.

 

[Vermonter]

And the direction in value was?

Up 31% for 2 condos over the multi.