setting a sales price: #21 of 100: Your House is Worth ZERO Because Your Grandparents Gifted it to You - 02/11/11 01:01 AM
You must let go of preconceptions about what someone paid for the property that you are looking to purchase.
A property is worth what a buyer is willing to pay and a seller is willing to let it go for … period.
 

Just because someone paid $300,000 for the property last year, doesn’t mean crap. That doesn’t determine value or motivation.  Tax records won’t always be able to determine that the new owner spent $100,000 remodeling the kitchen, master suite & back yard. Or that they just took a second and third out on the property & now owe … (2 comments)