I am thinking of buying a house from a friend in Franklin Township, Indianapolis, 4 bedrooms, 3 bath, 2 car garage, facing a lake. for 175,000.

Asked by Muhammad Tashkandi, Indianapolis, IN Fri Jan 11, 2013

does that sound reasonable?

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Julie Simnick, Agent, Indianapolis, IN
Sat Jan 12, 2013
In some neighborhoods it would be. In others it would not. If you have a Realtor working on your side in the transaction they could provide you with info on comperable sales in the area. If not, an appraiser could tell you the value of the home for a fee. If you are financing with a mortgage that would be part of the mortgage process. You should also have an inspection done and possibly a survey. If there is not a Realtor involved in the transaction, I would recommend a real estate attorney be involved for the purchase contract. You will also need to have title work done to ensure the title to the home is free and clear. Please contact me if you have additional questions.
1 vote
thank you Julie, this is very helpful. I need an appraiser to tell me the value of the home.. any recommendations?
Flag Sat Jan 12, 2013
Mallorie Wil…, Agent, Indianapolis, IN
Mon Feb 25, 2013
Are you still in need of an estimated value on this property? I'd be happy to send you a quick market value, provided I have an address on the property. I look forward to your reply.


Mallorie Wilson
Associate Broker
Century 21 Diversified
0 votes
Julie Barnett, Agent, Lebanon, IN
Sat Jan 12, 2013
Muhammad, that could be a reasonable price but it depends on the house and the neighborhood. If you have the address I can look it up and see what other homes in that neighborhood are selling for, etc. I'd love to help you with your real estate questions and needs. Contact me or any other realtor to get some sound advice on buying this home.

Julie A. Barnett
Broker Associate/REALTOR
Prudential Indiana Realty Group
0 votes
Peter Knight, Agent, Fishers, IN
Sat Jan 12, 2013
Could be a little high. Is there a basement? The recommendations from Julie are spot on. Email me the address to peter.knight@remax.net and I'll do a comparative analysis, free of charge. You'll get data on similar recent and nearby sales.

Peter Knight
0 votes
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