OfflineI have a property that can be converted into a legal duplex for about $1,000.00. My question is how do I determine the FMV of this kind of property? I can figure the going rent rate for the area, but how would I figure what the ARV of this property so I can put in an educated offer? I would need to know this information because I can only imagine it would be beneficial to potential buyers for assignment of contract. Any suggestions?
Richard
Bothell, WA
Know what truely matters in life, consume yourself with that, and you shall never be disappointed, afraid, or alone. Give your gratitude always, give respect to everyone, and you shall never be anything less than what matters the most. Give praise to the Lord, forgive yourself and others, and with all of this together you will get a taste of what heavens lie ahead.
Check with a local realtor and have them do a comparative market analysis.
... Verses: 35 "but those who hope in the Lord will renew their strength. They will soar on wings like eagles; They will run and not grow weary, They will walk and not be faint." Isaiah 40:31 ...
I have had them do that. Thank you by the way. The only thing is that isn't comping right (or at least I think not) considering that it isn't just a property with a MIL, but it can be a legal Duplex for around $1K. I guess my question in a broader view is would this make the property more or less valuable? Higher FMV?
Richard
Bothell, WA
Know what truely matters in life, consume yourself with that, and you shall never be disappointed, afraid, or alone. Give your gratitude always, give respect to everyone, and you shall never be anything less than what matters the most. Give praise to the Lord, forgive yourself and others, and with all of this together you will get a taste of what heavens lie ahead.