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FHA Requires 2 Sales That Support Value?

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CANative said:
Inside the range of sale prices and adjusted sale prices?
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What brings you to this side of town? I see you over on that other site. No shaking hands for you, huh?
 
CANative said:
Inside the range of sale prices and adjusted sale prices?
Click to expand...
@CANative - please post a link to that requirement where we have to bracket the sale (or MV) of the subject with the comp sale prices....my search function doesn't appear to be working well. :cautious:

Thanks :flowers:
 
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(h) Bracketing (i) Definition Bracketing refers to selecting comparable properties with features that are superior to and inferior to the subject features. (ii) Standard Comparable properties must be selected based on the principle of substitution, and the analysis will reveal the relevance of that data. Comparable properties should not be chosen only because their prices bracket a desired or estimated value. (iii)Required Analysis and Reporting In analyzing the comparable pool to determine the best comparable sales to display and compare in the adjustment grid, the Appraiser must use Bracketing techniques when possible and appropriate.
 
djd09 said:
What's your google not working. They don't seem to jump all over you.
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My search just didn't seem to come up with the statement that supported CAN. It did support REX's post, though. ;)

IOW, the Philly HOC in post 27 seems to have the same problem that OP's client has....unsupported statements.
 
residentialguy said:
What does that mean?
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He meant supported. He didn't mean value of the comp because we didn't appraise the comp most likely. Highly unlikely as of the effective date of the subject appraisal in the majority of cases. Some appraisers as you know use screwy comps that I would never use. I know fastest and cheapest is a little responsible. Like the highest comp in the neighborhood and the lowest comp with little to no analysis as to how the opinion of value was derived. In my book, they may not even be good comps. It depends. I've seen it though.
 
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residentialguy said:
@CANative - please post a link to that requirement where we have to bracket the sale (or MV) of the subject with the comp sale prices....my search function doesn't appear to be working well. :cautious:

Thanks :flowers:
Click to expand...

Where did I imply that this is a requirement.

Go back to sleep until the next dumb thread.
 
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