Hello everyone. I have the option of buying a building at an appraised price from 2 years ago at 490k. However, in the appraisal (Paid by the seller), there was an "extraordinary assumption" that the building will be made handicap accessible. The building is currently not handicap accessible and would cost roughly 100k to build a handicap ramp and restroom. I can also have the building reappraised and buy the building at the new appraisal price. My question to you is how likely is the appraisal price to go lower without the "extraordinary assumption" and with a neutral payer.
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source https://www.reddit.com/r/RealEstate/comments/evvbyc/us_question_about_appraisal/
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