I have been looking at a house that is going up for sheriff sale. The appraised value listed on the sheriffs website is 48k. So it has to sell for at least 32k. I know it all depends on the house and bidders, but in typical situations do homes usually sell for more/less/near the appraised value or should I not even consider that value when trying to determine the price? The home is pretty gross inside and will definitely need new floors, paint, and some other work, but I don't anticipate any major repairs like hvac or structural work. I looked at the auditors website and it was once appraised at 101k. I think if it sells for anything less than 50k it is a steal. I'm just trying to get an idea of what to expect going into something like this.
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