Appraisal value

6 Replies

if I see a home for sale for example on craigslist for $42,000 how do I acquire the true appraisal value of the home so I can compare it to the asking price?

You hire an appraiser for $350.... That, or call a local Realtor. They typically don't like working for non-clients though so you might have to call a few before someone would help you out.

If you don't want to do that you can do your own analysis. Check sold properties in the neighborhood on Redfin.com or a similar site. If you're going to get into real estate investing you will need to know how to value a property correctly. 

As @Zach Mitchell mentioned above you certainly could get an actual appraisal performed on the property  however unless you have it under contract just review the comparables that resemble subject project and have sold in the last 6 months. 

Under the learn tab here on BP- there's a how to guide on analyzing deals. 

Good Luck!

Originally posted by @Zach Mitchell :

You hire an appraiser for $350.... That, or call a local Realtor. They typically don't like working for non-clients though so you might have to call a few before someone would help you out.

If you don't want to do that you can do your own analysis. Check sold properties in the neighborhood on Redfin.com or a similar site. If you're going to get into real estate investing you will need to know how to value a property correctly. 

Originally posted by @Lisa Kohl :

As @Zach Mitchell mentioned above you certainly could get an actual appraisal performed on the property  however unless you have it under contract just review the comparables that resemble subject project and have sold in the last 6 months. 

Under the learn tab here on BP- there's a how to guide on analyzing deals. 

Good Luck!

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