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Updated over 5 years ago,
Home With More Beds and Baths Than Listed on MLS
Good afternoon,
I had an appointment today with a motivated seller but we were way off on the price. The house is almost 2800 sq ft and is listed with the city and on the MLS as being a 4 bed/1.5 bath house.
After meeting with the seller and looking at the house, I can see that this is actually a 6 bed/3 bath house.
My comps have this house at about $200k for the ARV but the seller is looking for $225 for a cash offer. My question is:
How much do additional baths and bedrooms increase the ARV when putting together an offer? Is there a formula out there that anyone uses?
Please let me know if you need any additional information.
Cheers and happy wholesaling,
George