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Updated over 10 years ago,

User Stats

222
Posts
38
Votes
Chris Stromdahl
  • Rental Property Investor
  • Seattle, WA
38
Votes |
222
Posts

Determining FMV?

Chris Stromdahl
  • Rental Property Investor
  • Seattle, WA
Posted

My deal analysis process continues. Having great fun and learning a lot along the way.

With that said:

Investment property in the area that I am focusing on is overvalued. 

Because of this I would like to be able to approach sellers in a professional manner to state my case for reducing the sales price.

I called my local county tax assessors office today and verified that they are mandated by the state to assess taxes based on 100% of the true FMV. However, then the representative told me that their valuations are approximately two years behind

What are some effective tools for determining the FMV for a particular piece of property?

Anything besides comparables?

Websites?

Rough equations?

Public/government information?

I would like to be able to plug in something to an Excel spreadsheet and go...

Thanks, Chris

PS. if you have any overall suggestions are how you go about deal analysis, your insight is appreciated and will be passed on to those that come after us,

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