buildTheHarbor
Property manager
I keep changing my mind on this one. It is a Toronto detached home with 2 bedrooms and approximately 2,210 sq ft, listed at C$1,228,000 after 58 days. I would call the condition average: good natural light and location, but dated finishes. I also need to allow for possible transaction costs and fees.
I found three asking-price comparables, but only one completed sale, so I am reluctant to treat the listings as firm evidence of value. How would you adjust that sold comparable for floor area and condition without creating false precision?
The missing details I think could swing the answer are the exact micro-location, parking and outdoor space. Lease length and service charges would normally matter in a comparison, although they may not be applicable to a detached home. Which single missing fact would most change your valuation, and what condition or floor-area adjustment range would you test? I will obtain a formal local appraisal before relying on any figure.
I found three asking-price comparables, but only one completed sale, so I am reluctant to treat the listings as firm evidence of value. How would you adjust that sold comparable for floor area and condition without creating false precision?
The missing details I think could swing the answer are the exact micro-location, parking and outdoor space. Lease length and service charges would normally matter in a comparison, although they may not be applicable to a detached home. Which single missing fact would most change your valuation, and what condition or floor-area adjustment range would you test? I will obtain a formal local appraisal before relying on any figure.