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  #1  
Old 11-09-2009, 05:39 PM
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Duckey Duckey is offline
 
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Location: Willamette Valley, Oregon
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Default Here is why you confirm comps

Found a good comp in RMLS, sold 9/1/2009-$1,200,000. Checked the quick county records and found no such sale, but did find a land sale 2/08 for $485,000. Called the agent do clarify what took place in Sept and found that was when they replaced the take out loan with premanant financing so he thought it would make a good comp so it put it in as a sale at $1,200,00. !!!!

You know the skippies are not going to confirm that info, just use it.
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Old 11-09-2009, 05:47 PM
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VegasWayne VegasWayne is online now
 
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Report it to your mls. The GLVAR in Las Vegas likes to collect fines for things like this.
  #3  
Old 11-09-2009, 05:53 PM
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It happens in our area all the time.
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  #4  
Old 11-09-2009, 06:19 PM
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That has to violate MLS rules.
  #5  
Old 11-09-2009, 06:37 PM
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My favorite one here: two lakefront properties. #1 listed for $1,400,000, #2 listed for $1,100,000. Same listing agent - both on the market about 2 weeks. Reported in MLS as sold on the same day for $700,000 each.

I pulled the deeds. It was an exchange, and so the agent just made up a sales price. I immediately called the agent, she wouldn't take my call. Called the broker and explained that lazy appraisers were going to use those two waterfront sales at $700,000, when they were each worth more. Nothing happened. Called again two weeks later - told the broker that next time he had a waterfront listing, it was going to get crushed by those two "comps". The next day, the mls data stated that these properties were an exchange.

Still, I bet stupid appraisers are using them.
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  #6  
Old 11-09-2009, 07:16 PM
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Bulk land sale in one deed that's recorded for every legal description is a common misinterpretation in the public records.

Answer: Record the HUD-1's.
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  #7  
Old 11-09-2009, 07:20 PM
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Location: Springtown, AmeRica
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Default

Quote:
pulled the deeds. It was an exchange
I got $1200 for an old coon dog once....but I had to take in 11 $100 alley cats in trade....
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  #8  
Old 11-09-2009, 07:23 PM
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Quote:
Originally Posted by Terrel L. Shields View Post
I got $1200 for an old coon dog once....but I had to take in 11 $100 alley cats in trade....
Nice cat equivalency.
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  #9  
Old 11-09-2009, 07:31 PM
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Quote:
Originally Posted by Joyce Potts View Post
Nice cat equivalency.
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  #10  
Old 11-09-2009, 07:44 PM
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Never ceases to amaze me - I confirm all sales and most Realtors react with "no one else ever calls." Gotta love it.

11 $100 cats? Cat equivalency???
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