How To Come To A Fair Price

[beer234]

My grandma is living alone now due to my Aunt passing. She's 93 with a 60's rambler that is fundamentally good and in a great location. My aunt was a smoker, the place is dirty and stinks like smoke, needs carpet, wood paneling removed and has a funky kitchen that should be demo'd and redone. When my grandma needs to move or god forbid passes, i'd like to purchase the home from my parents to 1: Get a deal on a property that could use a fixup. 2: Take the propety off my parents hands as quick and easy as possible. I want to ensure we have no hard feelings so i'd like to advise them on how to get a value placed on the property to see if we can work out a fair price. Because i'd buy direct i'd like to not involve realtors to save the comission. Would an appraisal we pay for create a price that would reflect what the home should sell for in as-is condition? Obviously realtors would do free CMA's but I don't want to waste their time. Anyone have any recommendations? Do realtors do a CMA for a consulting fee if you let them know up front that they won't be used to broker the deal? I'd like to create a win-win by having a trusted 3rd party set the price and see if we agree.

[aprazma]

A Realtor who would not be involved in the transaction will perform a CMA for a set fee, which would be less than an appraiser's fee (estimate 1/3 the fee). However, you would need to have them adjust the CMA for the property conditions you described. An appraisal normally takes into account property condition. You can remind them of the need to consider condition.

[Greg]

The reapprasial should do it. The smoke smell can be removed from the paneling, etc. with a commercial grade ozone generator. Follow directions, they are hazardous to your health.

[Mike Taylor]

If it were me, I would pay for an appraisal. It should only be around $300 and this is going to be the most accurate price you will get. Real estate agents are trained to do CMA's, but we are not appraisers. Pay a pro who does this day in and day out, that is the most fair.

[beer234]

Thanks everyone, those responses were helpful.