What is my home worth in Puerto Rico

Look for homes sold in the last 6 to 12 months that are like yours.

• In the same urbanización, or as close as possible.
• Of a similar size in square feet.
• With the same bedrooms and bathrooms, or close.
• In similar condition.

Compare the price per square foot and adjust for what your home has more or less of, like a carport, an extra bedroom or a remodel.

Use recorded sale prices, not listing prices. A listing says what someone asks, and a deed says what someone paid.

The appraisal is done by a licensed appraiser, and it is what banks ask for to give a mortgage. Usually the bank orders it and the buyer pays for it at closing.

If you sell without a mortgage involved, it is not required, but it gives you a number you can defend in a negotiation.

Property tax in Puerto Rico is figured on 1957 values, the last general appraisal done on the island. That is why a home's tax value is usually a fraction of what it is worth today, and it is no use for knowing what to ask.

An automatic estimate is only as good as the sales it has nearby. Use it as a starting point, and always compare it with recorded sales of similar homes.

In Flipeo PR you open your home on the map and see its comparables, recorded sales near it, the same block first and then the same development, and a value estimate when there are enough sales.

That estimate is not an appraisal. For a mortgage or a legal matter you need a licensed appraiser.