Asked by howard, 49659 • Sun Dec 8, 2013
In Chicago Edgewater area I am looking to buy my mother's half of the condominium where she lives. I know of 3 sales of the EXACT same unit in the SAME building within 1 year of each other within the last 2 years. The highest valued condo sold for twice the value of the lowest. The third condo sold for about the average of the two. Since all three are exactly the same layout but only on different floors, how do I determine an accurate value for the unit? What are possible reasons for such disparate value? Differences in how the unit has been updated? What else? How would an appraiser be able to determine an accurate value, a "current market analysis", since he/she can't look inside any of the already sold units?
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