How do I find out how much they paid?

**fozzy40** · 01-28-2008, 07:22 PM

What is the best way to research how much people are paying for their property? I'm putting in an offer for a condo in chicago in a couple of weeks and would like to have some of this background information.

Thanks again.

fozzy40

**CGjerdetu** · 01-28-2008, 09:20 PM

Is there any reason you are not working with an agent. They would have access to current listings and sold data and would have a good grasp of what is happening in that market including the list/sale ratio (how much the property was listed for vs. what it actually sold for).

**Mike Taylor** · 01-29-2008, 04:50 AM

Yes, a real estate agent will have easy access to that. Are you not using one? If not, usually the clerk of the court keeps public records on this. I don't know about Chicago, but some are available online.

**fozzy40** · 01-29-2008, 09:51 PM

I am working with an agent but just have not asked them yet. Just trying to do my homework too. Thanks!

fozzy40

**LOTrainer** · 01-29-2008, 09:58 PM

Originally Posted by fozzy40

I am working with an agent but just have not asked them yet. Just trying to do my homework too. Thanks!

fozzy40

My suggestion would be to ask the Realtor for the information. You can also ask the town for a record of sales, but that is work that can be done by the agent. Another source of free (but not always accurate info) is Zillow. They have a comparable section that you can do some research. Again, it might not be accurate so take that with a grain of salt.

**TomAnto** · 01-31-2008, 08:12 AM

The information is available to the public from the Recorder's office. Generally, you want to see the dollar amount recorded on the warranty deed from the last transaction. You'll need the PIN and may look it up on their web site. If the transaction occurred some time ago the value will of course be different today. Remember if it doesn't look right it may not be. Older records and human error could yield inaccuracies.

Just looked at mine & it is correct.

**carlam** · 02-13-2008, 04:49 AM

Tax records (where you would find what price was paid by seller) is public information. Your realtor is the easiest way to get that info.

What will you do with this inforation? Base your offer on it? That is a very small piece of the equation, if the market there is anything like it is in FL, it won't reveal anything of importance except the sellers paid a lot more than they are listing it at. That is unless the sellers had been in the home for several years. Have your agent do a CMA on the property to see where you should start your bid at.

**Malok** · 02-13-2008, 08:45 AM

Echoing the other sentiments in this thread:
Your REALTOR is the person you should look to for something like that.

But again, it doesn't necessarily mean anything. The previous sale could have not been an arm's length transaction, extenuating circumstances, etc.

Its 1 small piece of a very large puzzle (along with comps, market reports, etc, etc, etc, etc) - that again, your REALTOR should be providing for you if they are competent.

**RobM** · 02-13-2008, 01:53 PM

All property info is typically available via online tax records. You do a search for the county tax assessor and yoiu should be able to find what you need