How do I determine the value of a distressed property?

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How do I determine the value of a distressed property?

One of the best ways is to get your hands on a comparable market analyses. See what price similar properties have sold for in the past and find out the listing price of others currently on the market.

It is important to examine the fixer-upper carefully and figure out how much it will cost to fix any defects or repairs. If you are unable to get in, talk with nearby neighbors about the home’s condition.

You can also do your own cost comparison by researching comparable properties recorded at the local county recorder’s and assessor’s offices, or at Internet sites specializing in property records. If the property is in foreclosure, you should get as much information as possible from the lender.

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