Find similar properties for your comparative sales analysis

It's not always easy to find comp sales, especially on unique properties such as rentals and business establishments. You need to search out easy to navigate comparable search tools to have the best most accurate comparables at your fingertips.

I recommend: Find comparable sales in the public record of commercial property transactions by visiting the LoopNet website. You'll need to register to use the site, but they provide free real estate comparables for over 900 thousand commercial properties. If you are looking for comparable house sales transactions made by private owners, visit eppraisal.com.

Know the comparable sales location

When doing a comparative sales analysis, you need to know the benefits of the region and the relative home sales climate of that particular locale. Even though property values may soar in one borough or township, just minutes away you may find neighborhoods that are in decline.

I recommend: Visit the Intelius website for up to date neighborhood statistical analysis, sex offender reports, and tax data. You'll have to pay for the report, but you'll get a substantial discount if you join Club Intelius. They also offer volume discounts. City-Data.com brings this information, plus important business and vital statistical information, to you for free without a registration. It is only slightly less user friendly with a bit more clicking involved.

Get a property inspection to establish comparable home sales prices and business sales prices

Inspecting a property or home is the only way to identify things like termite damage and foundation problems, both of which do severe damage to the value of the property. Consider properties with those same specifications to get an apples to apples comparison by getting a home inspection done. This way you'll know as much about the property as possible and so will your potential buyers.

I recommend: Visit the American Society of Home Inspectors search page to find a certified home inspector in your area. Also consider using a home inspection service such as National Property Inspections if you'd rather have service take care of some of the minor details. Just be sure ask if the inspector they refer to you is ASHI certified.