Considering buying a relative's home, need help on evaluating a fair price.
Long story short, my cousin is about to sell the house that we're living in, which was brought for in 2009 for 300k. Rather than going out to house hunt, finding a place to rent, etc, I am considering about buying out the place from her. She's already had an agent come to give a quick 5-10 minute look and the agent said that based on a similar house down the street, my cousin can expect to sell it for ~420k. Being totally newbie to the property buying scene, what are the next steps I should take in properly evaluating the house to gauge true market value rather than the agent's quick assumption of it?
Some quick facts:
-Appliances in the house need to be replaced.
-Washrooms need to be touched up.
-Basement needs to be totally rehauled; carpets are outdated and there is water damage to one side the drywall due to washing machine leak problem.
-Vast majority of the doors, both insude and out, need to be replaced.
Some quick facts:
-Appliances in the house need to be replaced.
-Washrooms need to be touched up.
-Basement needs to be totally rehauled; carpets are outdated and there is water damage to one side the drywall due to washing machine leak problem.
-Vast majority of the doors, both insude and out, need to be replaced.