Comp Sale appears to be below market value?

[Michigan CG]

I haven't read every response, but why wouldn't you find and call the seller, then call the buyer. You have already talked with the listing agent; if the buyer agrees that he thinks he got a good deal (perhaps he can give you an appraised amount), and the seller agrees that they just wanted to get rid of it, then I think you have a strong case for a condition of sale adjustment, supported by your interviews of the buyer, seller, agent, and possibly another appraiser.

That just makes too much sense.

 

[DMZwerg]

Well, technically its is a comparable sale, its just that the terms of the sale are not precisely arms length or do not meet the complete definition of market value.

A sale is a transaction, the transactions are not comparable, ergo it is NOT a comparable sale. The physical properties may be virtually identical but if the sales are not ...