Additional comps

[Lobo Fan]

Kind of a stupid question, but I started thinking about this. When an UW comes back and wants more comps or listings or whatever how do you handle the bottom of the grid? For example the date of the data is after the effective date of the appraisal. Also, the DOM, do you use the days as of the addition or as of the effective date of the appraisal.

Whenever I make a change I put in a blurb about what I did and the name of the person requesting the change. (Some of them hate that). Something like "Comments added 06/19/2008 at the request of Otis Key of First State Bank". Comps 5-6 are added at the request of the client.

No problems there, but I was wondering what the consensus was on the dates and DOM.

 

[Rufus]

I was wondering what the consensus was on the dates and DOM.

For sales there is no change since it is from list date to pending date. For any active listings I use, originally or as additions, I calculate the DOM to the effective date of the appraisal. (I have a simple little DOS based program I wrote years ago that does this quickly.)

Edit: The date of the data is whenever you pulled it. It will match the date of your revision which you previously stated.

 

[Darrel Clark]

I pretty much agree with Rufus. For sales -- it is from list date to contract date. For listings -- from list date to effective date of report. Data date is the date it was verified.