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Updated over 4 years ago on . Most recent reply

Robert Campbell's profile image
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Robert Campbell
  • Member since Sep 20, 2020
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Robert Campbell's profile image
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Robert Campbell
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Robert Campbell
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Canadian Real Estate

How do you determine Market Value if there are no Comps??

Robert Campbell
Posted

Hi all, Very new to real estate investing but I am learning. I want to buy my first rental property but I am concerned that my asking price may be much higher then the banks assessed value when determining mortgage approval. If there are no comps in the area (4plex), how do I determine if the property is worth asking or what I am willing to pay? I hope I explained it correctly.  

Many Thanks in Advance! 

Rob C

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Tyler Stiller's profile image
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Tyler Stiller
  • from London, Ontario
  • Member since Dec 4, 2018
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Tyler Stiller's profile image
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Tyler Stiller
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  • Member since Dec 4, 2018
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Tyler Stiller
  • London, Ontario
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Tyler Stiller
  • London, Ontario
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Where is the property located?  Are there any duplex or triplexes in the area? 

Have you talked to a realtor in the area? 

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