Here we go . . . confused already (lol)!
Hi everyone,
Following my first marketing campaign, I had a couple of calls. One won't work due to the seller not being motivated, the other sounds like the poor guy is in distress and just wants out quickly.
My issue is that I'm struggling to find comps mainly due to a lack of recent sales in the area for similar properties. He has 2 parcels of land, adjoining, with a mobile home on each. One he lives in, the other is vacant.
As I don't have access to the MLS, I used Zillow (following through to the Tax Assessor's site) , Realtor.com, FindCompsNow and a couple of other sites to try to work out where the ARV should be.
The results were all over the place (Zillow reporting: "Homes like this sold for $33-$80k"), and the Tax assessors site shows values in the region of 50% of the values from the other sites ($64k.
Any advice as to how I arrive at an ARV to start calculating what I should be offering, to get me out of the gate would be very much appreciated!
Note: I'll be using the following to calculate my offer:
70% of ARV - Repairs - closing costs - my fee = my offer $
Thanks