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Updated over 14 years ago on . Most recent reply

Account Closed
  • Pennsylvania
2
Votes |
27
Posts

MLS Comps

Account Closed
  • Pennsylvania
Posted

Good morning. I have a question regarding MLS comps: Can I determine my subject property's current value based on one(1) comp? The reason I ask is that out of all the comps my agent sent me for a property I'm interested in, only one comp is a solid one in terms of distance, date sold, residential design, type, bed/bath, etc. I hope my inquiry is clear. Your help is greatly appreciated in advance!

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547
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214
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Scott R.
  • Real Estate Investor
  • Amarillo, TX
214
Votes |
547
Posts
Scott R.
  • Real Estate Investor
  • Amarillo, TX
Replied

Also keep in mind on alot of lower priced properties these sales prices include closing cost and such.. I know several of the rehabbers in this area say they almost always expect to pay alot of the buyers closing cost on lower priced areas.. So a comp of $125,000 might of actually sold for somewhere around $118000 but had $7000 in closing cost paid by the seller, this way buyers can roll those cost into there loans

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