ARV for Wholesale Property

[Robert Burns]

I am working with a motivated seller with a house needs repairs. How do I estimate a reasonably accurate ARV in an area with a wide variety of homes and none that have sold recently in the area to give any comps?

[Jeff Warner]

Originally posted by Robert Burns:

I am working with a motivated seller with a house needs repairs. How do I estimate a reasonably accurate ARV in an area with a wide variety of homes and none that have sold recently in the area to give any comps?

Hi Bob,

My first question would be why are there no recent sales in that area? Is it a war zone? How are you going about pulling comps? Realtor? Title Company? How far back are you going? Personally I like to look at the past 90 days but if there is no data you'll have to go back farther or have a "desktop appraisal" done.

Appraisals of any kind cost money, desktop appraisals might be $50.00...BUT, just because the seller is motivated, don't assume you can make the deal work. Did the seller give you an approximate asking price?

Sorry for all the questions, I actually had more and cut it back to what is above :D .

Jeff