it's time I sell things,.getting too old to do much upkeep, Brought my first 4 plex apt building ago,. more than 40 years go,. more in NYS as my parents were alive then and I could look after them and I had lived there my self before moving to Ma.

I have no idea how to price them, thinking a RE agent would price them for quick sales,

When asking for that BPO from the broker, let them know what you desired timeline is.

Get the broker (or do it yourself) to get the building appraised by an appraiser. It's $550 here in NC to get a SFH appraised. (Commercial property was $2500, last I did one) That's their job. Now if the buyer gives you grief about "the price is too high" you can either show them the appraisal or tell them it's been appraised.

A broker might be in the ball park but you are potentially paying them 2-3% of the deal which is probably in the tens of thousands of dollars. Get the a real appraisal.

See if the broker will list for a flat fee. Negotiate the commission. Don't just let them tell you well 6% is standard (3% sell side, 3% buy side). Say you are willing to do 4% (2% on the buy and sell side). Or say I am willing to pay $8K in broker fees. Or whatever. This is a place where you can save some money.

Finding a broker is easy! they practically find you. You should have some idea who the big dogs are in your area. Who is doing all the advertising? Who do your friends recommend? Who is all over facebook? There are a lot of ins and outs that the experienced broker will have already delt with. I'd avoid the newly licensed broker.

Good lucks with the sale.

You should NOT get an appraisal of your own, a record of the value will be in a national data base. Instead, ask one of your possible broker to give you a BPO (broker price opinion). If you wish to sell, you need to take a crash course on how to market your property.

For around $500, I planted some lawn seeds, put an automatic sprinkler timer hooked up to the front lawn and side roses. Added some lighting. Slapped on a fresh coat of paint. Added bottle water and soda to the frig, listing a sign saying lookers welcome to a drink. Had some outside chairs around the BBQ or pool. Had Soap, towels,etc in the bathroom and kitchen. Lots of toilet paper also. I also mowed the neighbors lawn to make the block look nice.

You should NOT get an appraisal of your own, a record of the value will be in a national data base. Instead, ask one of your possible broker to give you a BPO (broker price opinion). If you wish to sell, you need to take a crash course on how to market your property.

For around $500, I planted some lawn seeds, put an automatic sprinkler timer hooked up to the front lawn and side roses. Added some lighting. Slapped on a fresh coat of paint. Added bottle water and soda to the frig, listing a sign saying lookers welcome to a drink. Had some outside chairs around the BBQ or pool. Had Soap, towels, etc in the bathroom and kitchen. Lots of toilet paper also. I also mowed the neighbors lawn to make the block look nice.

Good tips Robert J

My house for sale is being appraised by the buyers loan co. Now. I asked my realtor, should I have gotten it appraised myself?

She said, "No because they won’t use it. The lender has to do their own appraisal so unfortunately it wouldn’t really do anything. "

I figure set the price at what I want, and negotiate from there.

Getting a rough estimate of the property value is relatively easy. There are enough online sources to give you an estimate. It’s more difficult either way buildings over 5 units.

Getting a rough estimate of the property value is relatively easy. There are enough online sources to give you an estimate. It’s more difficult either way buildings over 5 units.

potter,

Apt values are based on income, so bump up the rents even if it's a little.

A $50/month increase x 4 units x 12 months = $2400 additional income.

Investors look at the $2400 x a factor of 6 = an extra $14,400 value on the price.

For SFHs I get a licensed appraisal so I can confidently say "It's worth that much" when negotiating.

Also, selling your 40 year old purchase will create a SHOCKINGLY HUGE tax bill so talk to your CPA.

I am selling properties I bought cheap 40 years ago but are now worth A LOT more and are fully depreciated. I do a simple 1031 exchange into a DST Delaware Statutory Trust which owns commercial properties and pays me interest every month on my PRE TAX investment of the entire selling price.

I just did one today. I now own 1.09% of a big conglomerate with 5 stores - Hobby Lobby, Tractor Supply, Dollar General, Sprouts Grocery, and a kidney dialysis clinic. It brings in just as much as I used to CLEAR on the rental I sold and without any hassles.

For the most part I trust my realtors.

Been using them for over a quarter century.