Posted by takeya on August 13, 2009 at 23:03:28:
Sound advice that I can truly appreciate. Thanks for all the time you put in to answer my inquiry. I’m definitely taking notes!
Free Home Value road-block - Posted by Takeya
Posted by Takeya on August 13, 2009 at 20:00:25:
I’m looking into some fsbo properties and I’m finding in seeking the fmv, that some sites have no info on the address. What’s another avenue I can take with this?
Re: Free Home Value road-block - Posted by Rick, the Probate Guy
Posted by Rick, the Probate Guy on August 13, 2009 at 22:34:02:
You may have an erroneous street address, or it isn’t cross-referenced in the data repositories that the freebee Automatic Valuation Model web sites use.
Begin by double-checking the address. Maybe there’s a missing digit.
Cross check with your county tax collector’s records. That may give you a clue to an address conflict.
Try pulling comps for neighboring/adjacent properties of similar characteristics. Values might be way off but you’ll find a bracket to start with.
Contact your favorite title company and see if they recognize the subject property’s address as same as your records.
Consider asking the FSBO seller about this anomoly. I don’t suggest starting with him/her because if it’s an error on your end, you won’t appear too, well, you know, “experienced.”
Also, I’ve had properties with multiple addresses, had one where it had an address for each corner side, depending on which street you were on, another that the HOA changed the addresses from two to four digits (sadly, I had a regretable hand in that mess!), and on and on.
Also, if you’re in this business to make money, you’d do well to be prepared to spend money for better data. I just don’t think I’d make an important financial decision like writing a check if all I was depending on was on-the-cheap values.
You might end up getting your money’s worth, and that would be a shame!