They will determine what the average sale price is for a similar home in updated shape and subtract what it would cost to fix up. This would give you what should be offered for the property.
Another question you would need to answer is, how long will you occupy the home? Are you just going to fix it and sell it? Are you planning on staying there for more than 5 or so years?
There are a lot of questions which should be answered in order to answer your question. Find a Realtor to work with. It's usually free service.
Hope that helps,
You have received some good answers already. In addition to what they said, I would need to know where the condo is. We are an expert and specialize with condos. But to answer the question, the location will be paramount as the average 1 bedroom condo in Old City will sell in the high 200s to 300s depending on the size . Which would be a vast difference between if it was out in the NE or the NW.
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