Do I need to get a valuation appraisal?

Do I need to get a valuation appraisal?

I am just experimenting and feeling my way through the maze of looking at properties right now and I have a list of forclosures to look at tomorrow. I am not ready to do anything right now (I don't think) but I am just trying to understand and get a grasp of the step-by-step of doing the homework to decide on an investment.

What I noticed when I was on the government forclosure site and finding homes to look at in my area, they always ask if you want a valuation report and then you can pay $16.95 for each report.

Do I need to do this or can I work out the value of the property on my own?

Thanks!

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Deb


Debbie

I would say it depends if you have the chance to evaluate the property prior to auction. In some cases the auctions are held and you won't have the ability to look at it before the auction, basically, what you see is what you get. If the evaluation appraisal gives detailed info about the property, I would say 16.95 isn't a bad price. But, remember you get what you pay for.

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