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how do I find value of a "abandoned" house we've just inherited in another state?

The house has been empty over 7 yrs. Has been boarded up by city agency. Can only imagine the condition inside. 3 family home
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March 14 2011 - Hollis
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Answers (4)

Best Answer
There are a few things you can do. Have a local Realtor or two give you a Market Analysis, You can hire a certified appraiser to also give you an appraisal be sure to ask if you take that route for highest and best use of that particular property.. You should also inspect the property.There may be somethings you need to see first hand, also you have to make sure the property is safe, secure. and now that you own it insured. Also you may want to check the town and city to make sure all the property taxes are paid and up to date. Once you have all that information in place you can decide on what to do with the property.

Good Luck
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March 14 2011
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Hire an appraiser and let them know that you'd like an REO addendum attached to the appraisal. While the home is not banks owned, the REO addendum will determine value for "as is" "as is repairs" "as is 90 day marketing time and as is normal marketing time for your area. It will also give you a list of needed or recommended repairs and the cost to bring the home back up to average condition. All an estimate, but it will be a good starting point.
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March 28 2012
hire an agent give an free appraisal
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March 24 2012
Team MD gave a great answer. I can only add that you will also want to have a title search performed to see if there are any outstanding liens that you may have inherited along with the home.
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March 14 2011
 
Related Questions
how do I find value of a "abandoned" house we've just inherited in another state?
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March 28 2012 | 4 answers
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