I'm looking at a 4 bed, 4bath house. Asking price is 279,000 the assessed value in 2009 was 220,100. How do I know what to offer?

Asked by Hopeful, Monroe, WI Mon May 7, 2012

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Chris Lukens, Agent, Oregon, WI
Tue Oct 29, 2013
I would recommend you contact a local agent from that area. Tax assessments are not a reliable source to find the property price. Tax assessments can be all over the pricing board and do not reflect the property condition or improvements. Working with a local agent from the area you should be able to request a property CMA Report from your agent. This will provide you with most recent comparable homes that for your area. This report should include recent home sales, and current active listed homes for your area and similar to your property you are requesting this information for. If you contact an Realtor ask them to be your buyer agent. Usually the seller will pay your Realtor fees and you will not have the cost, and you will have the sound piece of mind as to what you are buying and what it is worth. If you hire an experienced Realtor they should negotiate your deal for you and save you money and provide you with a successful closing. Feel free to contact me: Chris Lukens of Re/Max Preferred. I would be happy to answer any of your questions. (608) 575-5185
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Roxannh.apraz, Home Buyer, Monroe, WI
Mon Jan 21, 2013
Contact the assessor and find out when the last revaluation was. That will tell you how old the assessed value is. Then ask the assessor what trend they are seeing in the arm's length transactions which are the sales used to determine the assessed value.
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Aubra Palermo, Agent, Freeport, IL
Tue May 8, 2012
If you are working with a Realtor ask them for some comparable homes that have sold. After reviewing and discussing those comparable sales with your Realtor they should be able to make a recommendation to you and then it also depends on how much you feel the home is worth compared to other homes you've viewed.

If not you can go to the County Court House to look up sold information.

If we can help just let us know,
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