I am assuming that companies calling themselves "property liquidators" are wholesalers. I have found a few companies that are listing off-market properties for below appraised values- many need rehabbing. This seems straightforward. I want to make sure there is not some "buyer beware" that I am missing if I choose to deal with these companies.
Updated about 1 year ago
Assessed- not appraised value.
@Kirsten Milliken I never heard of them or heard someone using that as a term to describe themselves. I see no reason to worry about any more or less due diligence that I would an any other property.
That said, "Below appraised value" is a red flag to me. Exactly what do they mean by that.
@Ned Carey below appraised value is my observation- not their words.
@Kirsten Milliken it is still a red flag to me if you are a new investor. What do you mean by below appraised value. This is a phrase easily misused or misunderstood.
I don't know if you are new but if you are, you might describe what you mean by that. We might be able to keep you out of trouble.
Guessing “appraised value” is actually “after repair value” used in this forum.
No, it's not ARV- because houses should be listed below ARV. If you asess the ARV and minus the amount you need to put into the house to rehab it, this is the current value- that is what I am talking about. I guess I should clarify, it is my math- I am doing the research to assess their value in the current condition "As-is" and seeing that SOME of the properties are far below this. Of course, many are way above this number