determine property value before writing an offer - Posted by Randy r. Lubow

Posted by julie stone on June 23, 2001 at 17:37:22:

If you can find a Realtor to work with you that understands the needs of an investor, great. If not, use the tax records. Determine how accurate they are in your area (ex. Austin’s tax assesments are about 20% low) then either look them up online, have them faxed or take a trip to the courthouse.

determine property value before writing an offer - Posted by Randy r. Lubow

Posted by Randy r. Lubow on June 23, 2001 at 12:16:11:

I need to know how to determine a property’s maximim value
without paying for an appraisal before I make an offer.
I have a property I think I can do well with if it has
a good market value after some repairs. I want to get a
first mortgage which includes the fix-up money and still be
left with equity. Help!

Re: determine property value before doing an offer - Posted by Ed Garcia

Posted by Ed Garcia on June 24, 2001 at 10:05:51:


You don’t say what state you’re in so it’s difficult to give you one answer. For example in California, we can get comps (comparable sales) from our title companies. In other states you have to use the MLS or data quick. I would hook up with an appraiser that I could work with if I’m in a location where comps are hard to come by.

What ever you do, don’t relay on a realtor who will spoon-feed you comps that will only complement the sales price that the seller wants for the property.

This is such an important part of the business; I’ve got to tell you to learn how to evaluate properties for yourself. Don’t relay on any one source.

Ed Garcia

Re: determine property value - Posted by Kris

Posted by Kris on June 23, 2001 at 23:27:00:

Try going to the “how to articles” on this website. There’s an article there written by J.P. Vaughan titled “Determining property value”. Start with that and go from there.