Updated about 3 years ago on . Most recent reply
Determining Comps for Creative Financing Deals
I am in the process of doing a creative financing deal and trying to determine comps. I noticed a home was sold two doors down from the property I am looking at for well below asking price at 57K. The owner stated they had received offers but no one can qualify for the mortgage and it was appraised for over what it is being listed for. The area is showing prices in his range of 130K to 250K on average . Clearly, this one house should not determine the overall comps but it does affect slightly the price. How do I determine a good price based on this skewed price?