Omg first call?!?!

[Melinda Campbell]

Just had someone call me from an ad I had in the paper. My first call and I was so nervous I couldn't even think of what to say right! So I got the basics of how much the house is worth and what they owe and said I'd call back. So I asked how much they owe on the house they say around $89,000, and that the house is worth around $120,000. I looked on Zillow.com for information on the property and it says it's worth that price range but says it was last sold in 2000 for $88,000. What the heck? What am I supposed to go by?! How do I know the person isn't just trying to say they owe more to get more money?!

[John Thedford]

You need to get current comps first. What it sold for years ago has nothing to do with current value. What do you intend to do with the property? DO NOT USE zillow or realtor.com to determine value. Ask an agent to pull comps for you. If you can buy it at 90K and it is worth 120K in current condition that could be an excellent way to start a portfolio.