Generally, only a licensed contractor can file a mechanics lien, and he would have to have proof that the owner of the property actually ordered the work done; as in a signed contract authorizing the work.It could cost the tenant a whole bunch of money in a lawsuit if he filed a false lien in order to blackmail the landlord.

July 1, 2008Local sheriff sale websites post sale prices.Local newspapers post area sales in central Ohio.Some auditor websites have comparable sales data.Check with local real estate investing clubs.Perhaps local investors will share their information on recent deals.Ohio has alot of reo opportunities.

BTW: you can compare some parts of an Appraisal with a Home Inspection report.

This is the closest to a comparable I can find.

MIke:Was the author of the blog referring to a specific type of agreement and contract?

Compared to the $5.4 million purchase price, that's a cap rate of 10.7%, which is high, but not impossible.

And while your looking - be honest with yourself.Make sure you look at any photos - read descritpions of any renovations that have been done and make sure your honest as to how it compares with your home.If you do use CL then be sure to drive by to see the hood and how it compares to where your home is located.

As stated by the other individuals.....You have to value the property compared to what people are buying, not what they "Could be buying" which it seems atleast part like what you're doing.If 6/8 sold homes in a area are foreclosures, then that area is REO dominant, which means declining sales prices, and if you open up your search range, you fall into the trap of looking at other areas with higher/different values.If the properties wer $57/sf then that's what they are worth.

I do not recall the specific name of the doc, however, banks have a form/document in which the owner/seller authorizes a third party to negotiate with the bank and authorizes the bank to release information to the third party.

comparable for what I've managed long term in stocks, though below what money managers will tell you stocks should make.