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COOP appraisal

Started by jifjif
about 17 years ago
Posts: 232
Member since: Sep 2007
Discussion about
How does a bank appraisal works? Do they only consider sale comps in the building and neighbourhood? Do they also consider recently rented units? What if there are no simila
Response by chuckl1233
about 17 years ago
Posts: 122
Member since: Jun 2007

Usually, the most recent sales and listings are utilized in the report, and there are adjustments for each comparable. If there is nothing inside the building, then going outside the building but staying in the neighborhood.

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Response by jifjif
about 17 years ago
Posts: 232
Member since: Sep 2007

Would they consider rental prices also?

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Response by ab_11218
about 17 years ago
Posts: 2017
Member since: May 2009

condos and coops are totally different. just like you can't compare a condo to a house.

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Response by chuckl1233
about 17 years ago
Posts: 122
Member since: Jun 2007

No, no rental prices.

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Response by jifjif
about 17 years ago
Posts: 232
Member since: Sep 2007

Thank you!

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