Determining the appraisal of the property you have in contract is one of the most important aspects of short sale is. Without the home appraisal value of the property you are interested in, it is impossible to make an offer to the short sale lender. This value will determine for what price the two parties will negotiate the short sale price of the property.
Among are some of the many ways on how to find the value of the property. A real estate investor may contact a certified FHS appraiser and within a day or two, the appraiser will send back an appraisal with three comparison prices and some additional info. The comparison prices will give you an idea of similar homes in similar neighborhoods, as well as properties in comparison with other distressed properties in the area like foreclosure, REO properties, and corporate-owned properties.
When comparing property prices, the best way is to look at properties in the same area of the short sale property. You can also grab the opportunity of using the Internet to get comparisons through Multiple Listing Services (MLS), free comparison services online and subscription services. If you have a network of realtor or real estate agent friends then they can give you property comparisons.
Some realtors and real estate agents suggest that home buyers and investors go for paid comparison services because this means that someone is truly doing research for your property query. They don't recommend the use of free comparison services online. It's worth the cost knowing that you get an accurate and realistic market value comparison for your short sale property.
Another good way to calculate short sale appraisal value for your property is through a home inspector to give you cost estimates. Don't forget to make notes of the physical condition of the real estate Ogden Utah especially if there are any repairs to be made on the short sale property. Take note that the bank is the one who make repairs and not you so make sure that you get cost estimates from a contractor that the lender or the bank would typically hire.
Among are some of the many ways on how to find the value of the property. A real estate investor may contact a certified FHS appraiser and within a day or two, the appraiser will send back an appraisal with three comparison prices and some additional info. The comparison prices will give you an idea of similar homes in similar neighborhoods, as well as properties in comparison with other distressed properties in the area like foreclosure, REO properties, and corporate-owned properties.
When comparing property prices, the best way is to look at properties in the same area of the short sale property. You can also grab the opportunity of using the Internet to get comparisons through Multiple Listing Services (MLS), free comparison services online and subscription services. If you have a network of realtor or real estate agent friends then they can give you property comparisons.
Some realtors and real estate agents suggest that home buyers and investors go for paid comparison services because this means that someone is truly doing research for your property query. They don't recommend the use of free comparison services online. It's worth the cost knowing that you get an accurate and realistic market value comparison for your short sale property.
Another good way to calculate short sale appraisal value for your property is through a home inspector to give you cost estimates. Don't forget to make notes of the physical condition of the real estate Ogden Utah especially if there are any repairs to be made on the short sale property. Take note that the bank is the one who make repairs and not you so make sure that you get cost estimates from a contractor that the lender or the bank would typically hire.
About the Author:
If you short sell your Inver Grove Heights real estate, you will take a huge hit on your credit report. Visit Tomball TX Real Estate for some short sale facts, information, and advice and more property options.
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