Condo for Investment?

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The following was a question submitted to TCI: "My wife and I recently went to the beach. We looked at some condos that were for sale down there. How do we find out approximately how much the condos are worth??"

Comments(3)

  • 9th April, 2002

    You don't say whether this is a deeded condo to own - or timeshare?


    In most cases, check the "bulletin board" at the condo office - they will


    have condos that they have taken back for sale. Compare prices. Then also


    look at nearby, similar condos and compare their prices. Remember, the


    truest value of something is what someone is willing to pay for it

  • 9th April, 2002

    If you have a Realtor friend in the area, they could do a sold search for comparitive condos.

    • 9th April, 2002 Reply

      The easiest way to get a good feel for the value of the property is to go to several Realtors and ask them to pull comps (Comparable Market Analisys) on the area in question. This may give you a variety of numbers, but look at the ones most similar and recently sold. The reason NOT to give the exact address is that someone may beat you to the punch if they know the address.

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