Re: Sold prices of non-MLS listed properties - Posted by Kristine-CA
Posted by Kristine-CA on August 08, 2007 at 10:08:52:
I use comparables from title companies combined with comps from the
paid data service I use. I can’t imagine using just MLS comps as the
MLS is only a partial picture of what’s going on. And appraisers
certainly don’t rely on just MLS comps.
Many free online comp services pull their info from recorded docs.
Trouble with that in CA is that it is possible to record a deed without
indicating the transfer tax on the deed doc. It’s that transfer tax that
translates to purchase price. Many investors and those concerned
about privacy make sure that the transfer tax is not printed on the
deed. (However, the transfer tax info is still public and available at the
recorder’s office.) So with online services you will see lots of purchase
prices as zeros where there was no tranfer tax on the deed.
The title company comps will usually include sales prices for even
those properties where the transfer tax was not included on the face of
Call your title company, ask for customer service and ask for a
property profile or comps for a particular property. There are also lots
of subscription services to the title company available online that may
be of value to you. Realquest, etc…