Realtor handed me 14 comps.

[Zoe]

Sometimes I get a sales contract and call agent to schedule. I see before I ever inspect that it will likely not meet contract price. I will ask agent what comparables they used to help set the sales price?

I already see trouble ahead in tidewater or ROV.

 

[George Hatch]

If there is something pertinent that I may not be aware of, I'd rather check it out BEFORE completing my report than having to go check it out later to find I was in error.

I appraised a multi-tenant office building in Moreno Valley earlier this year. The borrower accused me of understating the building area by quite a bit. Enough to affect the value conclusion. I was so stressed out by the accusation that I had screwed up that badly that I went back later that evening and remeasured, just to make sure that if I had made a mistake that I could fix it.

I should point out that I generally do an entire site plan for my diagrams, usually including interior floorplans when the buildings are small enough to do so. So I had already measured front/rear setbacks as well as a side setback on one side. (the other side was like 200ft away from the lot line). So I'm setting my structure in with those setbacks in my diagram, in part to confirm my measurements. Even with that I wasn't 100% sure that I wasn't screwing up this time.

As it turns out he was including the overhangs (walkways and staircases) as GBA whereas I was sticking to the same measuring protocols the assessors and building depts use - just the enclosed structure itself - as a means of maintaining consistency with my comps which are also reported that way.

My point being that anything we can do to get it right the first time is to our own benefit. Going back afterwards costs time/money. And emotional damage.

 

[Bill75]

I went to a purchase inspection. The house was vacant so I was measuring and taking photos. Suddenly the agent shows up out of nowhere and is like, "hey I'm here to drop off some comps." So I took them and he came up with 14 comps.....Would you address each one in the appraisal, or just not even mention them? Some are really bad.

There's a difference between a Sale and a Comp. Make sure they know that.

 

[shrubberyvaluation]

There's a difference between a Sale and a Comp. Make sure they know that.

Trying to educate most realtors I believe is counterproductive. At best they won't care, at worst they will take offense.

 

[Trihard]

Trying to educate most realtors I believe is counterproductive. At best they won't care, at worst they will take offense.

This is correct.

 

[djd09]

If there is something pertinent that I may not be aware of, I'd rather check it out BEFORE completing my report than having to go check it out later to find I was in error.

aren't you a realtor...

 

[Dublin ohio]

aren't you a realtor...

Many appraisers are Realtors. But not all Realtors are brokers or agents

 

[George Hatch]

There's a difference between an appraiser who started out in sales vs sales who started out as an appraiser.

 

[djd09]

if you need comping lessons...let me know

 

[Dublin ohio]

if you need comping lessons...let me know

Hard to say this. But I would sooner trust Fernando