Sale price without comps

[Keith W.]

How do I figure out a final sales price, after rehab, in an area with little to no comps? Would I find other ranches in the area and figure it out using price per sq/ft?

I'm trying to use the sales price to figure out my top bidding price on a HUD home. Zero experience with estimating cost of rehab either, so I'm using the top end of the national average. Considering it's more expensive in NJ.

Any help is appreciated.

[Jonathan Greene]

Why would you use a national average on a rehab? I don't even understand how that could help. Every rehab is different. There is no price per square foot rehab price that is a real thing unless you are rehabbing all in the same development with the same build dates. If you are in NJ, homes built in the 1920s aren't like that. You could have an oil tank, you could have a cracked sewer. These are all unviewable and often times not disclosed anomalies that will cost you way more than you think. So, if you are asking a question like this and admitting you have no idea how to estimate the list price, rehab costs, and ARV on the other end, you should not be bidding. Do you have an agent? Have you had any guidance? What do you mean, there are no comps? There are always comps, it's just about how you find them. Sometimes you go back further in time, you go out farther in diameter and then you look at recent sales just to see how the market is doing. You also should definitely not be bidding on a HUD home if you have no rehab experience.