Stip to add specific comp to grid or a different comp within 1 mile of the subject

[Sid Holderly]

Sometimes you have to explain the neighborhood. I have responded before with there are no homes within a mile let alone a sale. Then explain the + & - of each comp and why some closer ones (1-? ) miles away were not used. There were more people in the building of the reviewer than in the County where I was appraising. The reviewer can not see what you see, explain it.

 

[Fernando]

from a recent fannie letter

The best and most appropriate comparable sales are not always the most recent sales. It may be appropriate for the appraiser to use a 9-month-oldsale with a time adjustment rather than a 1-monthold sale that requires multiple adjustments for other differences. the same response for a sale being closer.

A sale with multiple adjustments isn't necessarily a comp. this is fannie answer to you.

Reconciliation.
Appraisers can do that with judgement. Computers can't.

 

[Functional Obs]

A lender client who sends me the majority of my assignments sent a stip...

You've just identified a totally different problem. It's time for you to get some additional clients. Then you won't have to worry so much about ridiculous stips. Make that a goal for the rest of 2024. Pick up at least one new, and good, client.

 

[shrubberyvaluation]

Grid it, find the reason why it is below the rest of the indicators, try to adjust if anything is found, and give it zero weight regardless. Keep all the existing comps in the grids.

Do you have to insure its not on a FNMA form since there is a certification that you used the best comps available?

 

[Tom D]

Do you have to insure its not on a FNMA form since there is a certification that you used the best comps available?

definition of an underwriter, the maker of the new rule. putting it in a report, at the request of the lender nullifies the pre printed term best comps, as per your own having done so. the lender can request any additional info from you. they have a we don't need your pre printed certification form rules. and they don't. you say it was at the lender's request. readers beware.
then it becomes your business decision as to doing it, how doing it, or not doing it.