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Updated 6 months ago on . Most recent reply

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Doug Fluckiger
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Second opinion on an ARV

Doug Fluckiger
Posted

I'm looking to buy and flip a property whose ARV looks improbably high, but the wholesaler says he could only find one comp which justifies his number. I'd like a second opinion. I don't know that a realtor would give me comps if I'm buying through a wholesaler, so are there any other options for finding comps?

The tools on Zillow and Redfin aren’t especially helpful since the house is off market, and they’re underestimating the number of bedrooms.

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Erik Estrada
#4 Mortgage Brokers & Lenders Contributor
  • Lender
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Erik Estrada
#4 Mortgage Brokers & Lenders Contributor
  • Lender
Replied

@Doug Fluckiger

Try HouseCanary or ask a realtor for a CMA for a fee..

The last thing you want to do is buy this property and end up with a lopsided deal if the ARV is significantly lower than what the wholesaler claims. It will cost you a lot more in the long run. I would also ask multiple local appraisers. Use the lowest ARV value to be conservative.

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