If a house tax appraises for 45,510 with four extra lots included , and if house needs 10,000 in repairs, what what is lowest price I would start at and highest you experts would go? Please help, I appreciate your frankness and love this site.
i would not use tax records to determine the value of any home. To start you might want to network with a local agent or contact an appraiser for a value check otherwise you will be cutting yourself short - it is best to look up similar homes within the homes zip code on mls - such as using www.realtor.com or www.realestate.com and using the sold comps from www.realquest.com - then where i live -az - i take 3 sold comps and 3 open comps within the last 3 months and average them - then i deduct 10k plus (due to a massive declining market) whatever dollars in repairs are needed to get a value - then i calculate my asking price at 70% - each deal is case by case but this method works well for me - do not use tax records
Thanks, What are open comps and are you talking about drive by or a full appraisal and what do they average costing, because if you looked at many that could be expensive. How can you find out if they’re are liens beside the mortgage on a property, without spending much money. :help
“open comps” would be the properties you would find currently up for sale - typically you would need to pull title to check open liens, www.realquest.com is good for that as well - depending on the plan you would sign up for - i believe it is as much as 150 a month for unlimited requests