Ive spoken with many agents whom refuse to even look at the city assessment.
You have to keep in mind that the city has not walked through your home and seen any damage or upgrades. The simply look at your lot size and square footage and make an educated guess based on the rest of the community.
It is fair to say that roughly 80% of properties that I pull a city assessment for come out to be in that 10% figure. With that being said, I just helped a client purchase a foreclosure where the city assessment is close to what he will pay. In reality this property can be flipped for over 30k in one week so the whole 10% idea is way off in some situations.
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