Newbie investor commercial property

[Tony Gutierrez]

Hey guys I’m here because I need help from the experts.

Have a comercial property that a friend of mine is trying to sell,I feel he’s overcharging us for the property because he’s not asking us for no money down which I know for a commercial your looking at least 20% down.

He’s asking $790,000

We looked at the county records and is showing is value at $450,000.

help!

[Alecia Loveless]

@Tony Gutierrez Usually the town record is not an accurate representation of what a property is worth. Our town just did a revaluation and got close to 100% but the market constantly changes and prices continue to trend upwards meaning the 100% valuation is likely already not accurate.

If you’re concerned you could ask for an appraisal which will take into account the value of the land, the value of the building, and the value of any rental income if any exists.