Step 3 - Get Comparables
To determine if a property is a good deal or not, you mustcompare it to houses for sale and houses that have sold in the area. This process is called “getting comparables”. You will want to find around ten or more comparables to ensure accuracy.
There are two ways to obtain comparables:
- Contact a realtor. Ask a realtor for the sale price of similar homes to the one you are interested in. They are the only ones that have access to this information.
- Search online. A realtor will most likely email you similar properties in the area for sale, but if you are avoiding working with a realtor at all costs, you will have to find this information yourself. Real estate listing websites are the best way to find other properties for sale. Go to the Search Real Estate Listings section of this website for a list of these services.