Ok, so I've spotted a house on Zillow that is for sale at $75k. The house is clearly worth more, in fact Zillow's "Zestimate" says it's worth $203k. I went over to the property apprasier search site for the county and feel as if I'm blind to what I'm looking for. I guess what I'm asking is, how do I get more details on the property, for instance, why is it selling so low, and if maybe this is an opportunity for subject to or wholesaling. Can somebody tell me what steps I should take to learn more about the property and what may be flags for an opportunity? I mean, obviously driving there and knocking on the door to talk to a person is my first thought, but what if the house is vacant?
Also, if I can acquire it through a subject to deal I'd like to actually put my family in it since it's an ideal location for us. What should I look for before taking that step? Title searches, any delinquencies maybe?
Talk to the listing agent, drive by, etc. If it's a short sale, it could have a low ball asking price to generate interest, which doesn't relate to the price that will be accepted by the shorted lender.
Thanks for the prompt response Wayne. I'll be digging further into this.
Don't rely on the "Zestimate" price. They can can be pretty inaccurate depending on the area. Definitely go look at the property and ask the listing agent for more information. You will probably figure out real quick why the listing price seems lower.
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