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Updated about 12 years ago on . Most recent reply

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Doryal P.
  • Wholesaler
  • Newark, NJ
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figuring comps

Doryal P.
  • Wholesaler
  • Newark, NJ
Posted

Can someone send me a successful deal that was made; comps, pricing, so I can study it

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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
Replied

I guess what you're asking for is a copy of an appraisal showing comps. It won't tell you much unless you know the process and the guidelines underwhich they are made.

I'd suggest you go to appraisal sites, Appraisal Institute, name slips my mind at the moment, google "appraisal guidelines" or "appraisal requirements"

What's almost as good in reality with much less brain damage, is to get out and tour homes for sale, the more you actually see in person the better you'll be able to spot a property and know what the price range would be. If you study your farm area closely, do some digging and look at the deeds of trust of sold properties you'll get an idea of what a property sold for if you don't have a Realtor who will inform you.

If you do that, you should be able to drive up to a property in a neighborhood and know withing 5% of what they are listed for and what it will probably sell for. It takes time to get there, but it can be done. :)

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