Hello everyone, I am new to the forum and new to investing. I would like some advice on the best way to get a good after repair value estimate on a property that has no true comps? By true, I mean that there are some houses that have been sold in the area but they are either not as big sqft wise or are not as old. Any advise in this matter would be great!! Thanks!
Pay for an appraisal from an appraiser.
Keith
Or ask a realtor to help you out on value. Also, look to see if there are any similar properties listed on the MLS to give you an idea close to value.
If you need the ARV for lender purposes, ask the lender if they have a list they use for you to chose from, or can you just pick one yourself. Usually they chose the appraiser. I’ve heard of people getting a “letter of opinion” or something like that from an appraiser that doesn’t cost as much.