I need to get comps for my condo to prove it's value for a home equity loan. Is there a website that will?

Asked by Barbara Good, Chicago, IL Tue Jan 20, 2009

show me what's been sold in the last 6 months that was MLS listed, that's free? Or is there a public records place I can check? Or do I have to pay for the info? I'm new to research on the web and not sure where to start. My bank says my condo is only worth 130k, but I did find five others w/in 5 blocks that have sold for over 200k-I just can't find out how to get the spacific info I need.

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Jeffrey Kropp, Agent, Chicago, IL
Tue Jan 20, 2009
Barbara, many borrowers are in the same situation as you. They want the great rates but cannot secure the appraisal amount they need. The banks are sending their own very conservative appraisers out and finding crazy reasons to deny loans. You can try to convince them otherwise but it is doubtful (they must follow appraised value so you have to hope the appraiser will revise his opinion).

If you are still denied, your only other option is to check another bank, who will send in another appraiser to start again. The issue you have this route is the fees for applying again and for another appraisal begin to add up.

Good luck!
Web Reference:  http://www.1sthomegroup.com
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Scott Newman, Agent, Chicago, IL
Tue Jan 20, 2009
First, I am happy to provide this to you. But if you want to do it yourself, you can go to my website and put in your property address and my system will provide you will sold information for the area. If I can be of further assistance let me know.

Scott Newman
Newman Realty
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