Posted by Ronald * Starr(in No CA) on August 25, 2003 at 22:14:21:
You need to know the market value. I do not recommend buying properties unless you do.
There are several ways to go. Study all the recent sales in the town and see if you can determine a market value. Hire an appraiser. Talk to the appraisers in the County Assessor’s office and ask his/her thoughts on market value of such a property. Talk to a lot of the real estate agents in the area.
It is perfectly sensible to pass up a property if you don’t KNOW that you are getting a good deal. My motto: Better to miss two good deals than get stuck with one bad deal.
Good Investing*********Ron Starr************