Posted by JPiper on May 31, 2000 at 18:54:15:
You really don’t have enough information to comment at all as to whether this is a deal. You need better comp information, and numbers on repairs.
Assessed value tells you next to nothing about market value. What if the property that “varies widely” from it’s assessed value is the subject property?
The tax information should show the square footage of the properties that have sold. I don’t know if octitle provides this…but if they don’t, it should be available through the county.
You might call a few Realtors that work the area…ask some questions about value…have them provide you with a list of comps.
If you have better information on comps and repairs then we (and you) will have a better idea of what may be possible here.
By the way, mortgage information may also be available at the county. Or, if the Realtor is cooperative, he may be able to ask the seller…you need the information so that you may decide if you would like to pursue an assumption.