Posted by Bob Taylor on February 23, 2001 at 08:03:07:
Troy:
I try to do the following-
Appraisal is $120,000.00, needs $5,000.00 in fix-up. I need to make $20,000.00. Offer is $90,000.00. I know these numbers do not add up to the appraised price, but, I can always raise my offer.
This is the way I work. I do not do junkers. Yet, anyway.
Good luck, and, good buying/selling,
Bob Taylor…Alabama
Legrand Students: MAO formula - Posted by Troy W (NC)
Posted by Troy W (NC) on February 23, 2001 at 06:51:31:
Trying to get a survey when it comes to figuring up formulas. Normally when you find a house that is a junker and is falling apart you might use a formula of ARV X 70% minus repairs = maxiumum allowable offer.
Question: what formula would you use if you find a house only needing cosmetic repairs??
Please help
Troy