I have a two bedroom 1 bath steel frame home on 10 acres close to a lake, and needs no repairs or the like. It is appraised at 125,000 owners want to sell due to ones health problem and was built as their retirement home. As for comps thee have not been any places in this area sold for some time. Found one place in the internet that found a property close to this one and came up with a fmv of 75,000. Even the local real estate agent has nothing in the area to compare this property with either. I think the only one that could even get a comp is the appraiser but they appraised it a 125,000. Owner tried to do a rent to own but then the person wanting it could not get the loan for it. I currently have it under contract to see what I can come up with but finding a buyer is hard even though Dallas Tx is just right up the interstate. Due to the price and location it would not be a good rental unless it is for fishers that come and go and this property is too good for this too. I have it listed on my web page, on cl, and other places I am a member and nobody interested in it. I have buyers in the area that are investors as well but this is something they are not looking for either. Will have to wait and see what comes out of it.
I have a two bedroom 1 bath steel frame home on 10 acres close to a lake, and needs no repairs or the like. It is appraised at 125,000 owners want to sell due to ones health problem and was built as their retirement home. As for comps thee have not been any places in this area sold for some time. Found one place in the internet that found a property close to this one and came up with a fmv of 75,000. Even the local real estate agent has nothing in the area to compare this property with either. I think the only one that could even get a comp is the appraiser but they appraised it a 125,000. Owner tried to do a rent to own but then the person wanting it could not get the loan for it. I currently have it under contract to see what I can come up with but finding a buyer is hard even though Dallas Tx is just right up the interstate. Due to the price and location it would not be a good rental unless it is for fishers that come and go and this property is too good for this too. I have it listed on my web page, on cl, and other places I am a member and nobody interested in it. I have buyers in the area that are investors as well but this is something they are not looking for either. Will have to wait and see what comes out of it.
ba