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Updated over 7 years ago on . Most recent reply

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23
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David Hald
  • Iowa City, IA
2
Votes |
23
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ARV estimate disparity with RE Agent. What now?

David Hald
  • Iowa City, IA
Posted

I am looking at a duplex that needs a full rehab in a midwest city. 

My real estate agent sent me a list of comps, and by what I can tell from recent sales, the ARV could be about $85,000.

However, I asked her for her estimated ARV number, since this is my first deal, and she came up with $165k-170k.

Now I'm a bit stuck, because this is my first comps calculation and now I'm doubting if I did it right/wrong/too conservatively. 

Any help would be greatly appreciated.

Thanks!

Most Popular Reply

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9,365
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6,552
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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
6,552
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9,365
Posts
John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
Replied

it they are using foreclosures and/or distressed sales, those are not considered by an appraiser, AND SHOULD NOT be used by an agent. Those numbers are NOT the norm. There is definite reason to question her figure. If it needs work, get a licensed contract bid (OR TWO).

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