Contingent and Pending Sales / Effective Date

[Raven59]

The subject property is somewhat unique and this particular comparable is one of the most similar and contributes to the analysis.

This indicates the relevancy of this piece of data. It is competition. Whether you grid the sale is your choice. If it adds support, it makes sense to discuss the sale; and it doesn't matter which format.

 

[sputnam]

comps #4,5,6 are called secondary comps by underwriters. if 1,2,3 look good, i doubt than more of a glance at 4,5,6, if that. i use secondary comps as more support for my thinking, and i do put them in. i think that you are over thinking what you need to say, as most reports aren't read that much in depth.

Maybe most aren't... but some are... and you don't know which ones will be thoroughly scrutinized.

 

[JamesDPratt]

Use it as Comp 4, it is PENDING on the date of your report. The fact that it fell through later means NOTHING as you r report is only effective on a given date, the Date of the Inspection.
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[J Grant]

Use it as Comp 4, it is PENDING on the date of your report. The fact that it fell through later means NOTHING as you r report is only effective on a given date, the Date of the Inspection.
We have a few hundred appraisers across 5 counties in our email chain to get quick replies to for such questions. Join us - jdvalues@gmail.com

Actually, it does mean something. We inspect on the effective date, the signature date can be days or a week plus afterward. What he learned between the signature and effective dater matters - yes it was pending as of the eff date, we soon found out it did not close - and then it is our judgment how reliable it was or is to use -

 

[andrew81]

The subject property is somewhat unique and this particular comparable is one of the most similar and contributes to the analysis.

In this case I would definitely use it as a listing. I would not rely on the cancelled contract price, however, apply a list-to-sale price adjustment.

 

[JamesDPratt]

Actually, it does mean something. We inspect on the effective date, the signature date can be days or a week plus afterward. What he learned between the signature and effective dater matters - yes it was pending as of the eff date, we soon found out it did not close - and then it is our judgment how reliable it was or is to use -

HOG WASH The Effective Date is what matters and as of the EFFECTIVE DATE it was Pending. That fact that it take you a week to complete the report means Nothing