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Updated over 17 years ago,

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15
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Determining The FMV of an Out-of-State Property

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Posted

Through my website I was contacted by a landlord that wants to sell
his rental property. The numbers he has provided work, but before I
get too involved in the process I want to independently verify the FMV
and potential rental rate of the property. It is located in an area
that I am not familiar (The property is in the mid-west and I am in New Jersey).

My plan is to contact a local realtor, give them the property
particulars, ask them to do a drive by of the property and give me a
BPO. My questions for the group are these:

1- Do you have a better method for finding out this information than
what I have proposed?
2- What is a fair amount to pay the realtor for doing the BPO?

Thanks in advance -

Rich DeLuca

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