Incomplete purchase contract provided

[residentialguy]

You see the subject as a dilemma. I don't. I wish all my comps were that perfect. But, they're not. Now you have to try to figure out how much more those fireplaces, granite tops, decks, additional bedrooms and baths, smaller and larger GLAs, walkouts, additional garages, different ages, condition, etc are affecting the price. And you do this by a drive by and taking the word of the listing agent.

 

[J Grant]

Res Guy, you don't get it... I don't see the subject as a dilema, and aware the physical characteristics of the subject don't need adjusting to itself.

Most appraisers are not giving line item adjustemnt to every closet and fireplace or deck, anyway. But the sum total of many market sales and pendings etc, and our comp adjustments, vet the subject for value as a property...we are not appraising the sales contract, we are appraising the subject property.

The fact that a SC price may be in one indicator of value, still has to be vetted against how the subject's location and physical characteristics returned value (from the other market data.) Sometimes there is a gap between value derived from market for subject property, and the SC price, even if the SC price is "reasonable." The gap is the dilema....

If an appraiser makes the SC price the holy grail of all data, then yes, there is no dilema.

 

[residentialguy]

We all understand that sales need to be taken with a grain of salt, including the subject. I will also test the subject by trying to show that it isn't reasonable just to verify that it is reasonable.

 

[J Grant]

sounds good gotta go now