ctapraser
Senior Member
- Joined
- Feb 3, 2012
- Professional Status
- Certified Residential Appraiser
- State
- Connecticut
First thing, my appraisal is going to come in way under the contract price. Back story, I get to the house and the homeowner gives me pages of comps, stating that's how "they" determined the sales price. I asked if the comps were from the agent and she stated that she was told it was something she could give me and that they were found on Zillow. The comp sheets are full MLS listing sheets printed out with the agent's name. And these "comps" are so different that I have to wonder what the agent was thinking? It doesn't even make sense.
My report will speak for itself, but do you ever add information such as, the list of comps given to you and why they were not used when the situation is ridiculous as this?
First thing, my appraisal is going to come in way under the contract price. Back story, I get to the house and the homeowner gives me pages of comps, stating that's how "they" determined the sales price. I asked if the comps were from the agent and she stated that she was told it was something she could give me and that they were found on Zillow. The comp sheets are full MLS listing sheets printed out with the agent's name. And these "comps" are so different that I have to wonder what the agent was thinking? It doesn't even make sense.
My report will speak for itself, but do you ever add information such as, the list of comps given to you and why they were not used when the situation is ridiculous as this?
It will save you time to comment on them in the original report. Simply state that you reviewed their data and why your comps are better. If your opinion of value is well below the contract price, the first email you will get from the lender is....why did the appraiser not use the sales provided by realtor/seller.