OfflineOk. So here's the story. I came across today a complex of 7 duplexes (so 14 units total) that are owned by an individual. She is selling them all but splitting them up and selling them separately. (though Im sure I can get a deal if I get them all on contract.) So I started to do research to see if I could get them on contract low enough to pass on to some buyers I think they would be great for. But here's where I'm confused as I am still new to this and have only researched single family homes and duplexes up to this point.
At the county records site, they have each unit-all 14 listed to view records on, individually. All the land and building values are listed the same (as all the units are the same, floor plan, etc) but the taxes show behind for this year on all units and for the last 3 years on the 1st unit. So the land and building value and tax amount that is shown on each unit, 1-14, is that per building I'm assuming? So there are 7 buildings valued at the amount listed on each unit. And what do you make of the way the taxes are listed? Is that the tax amount for the entire group of 7 buildings, for each of the 7 buildings?
Also when I looked up the FMV, zillow gave nothing, cyberhomes gave an amount Im guessing is for just one building and eppraisals and totalview are the only 2 that gave what seems to be for all 7 buildings. Any advise on how to get an accurate FMV for each building and all 7 together? Any help is greatly appreciated!
Thanks!
That Is an excellent question I'm looking into getting better @ making better offers based off FMV ARV & SFV estimates. but I really got to get better @ coming up w accurate FMV's. Sorry I couldn't help answer your question though but if u live in the PA Philly area I would be open to forming a partnership w/u if interested.
ok, so the agent listing these just got back to me. SHe said they now have to be all sold together and are a short sale. She said she has one offer already but if I had a cash offer it would be a more solid option for the bank to consider. I was wanting to do an assignment of contract. I know its best not to on bank owned properties. If its a short sale is it considered bank owned? And can you do an assignment of contract on them?
Thanks!
Dobbie, go to "ziprealty dot com" create a free account. They have an excellent site. I pulled up the duplexes. They are reduced from $105K down to $80K and they appear to be rented
I havnt heard of that one. Thanks! will definitely try it! Yes they all have renters currently. And they were at $100,000 each I thought and are down to $80,000 each. But tell me how you found them with just the basic info I gave you in my post. Wow!
And thanks for the info on the website!