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Subject Is Best Comp

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normando

Senior Member
Joined
May 2, 2009
Professional Status
Certified Residential Appraiser
State
California
My subject sold earlier this year and I like to use it as a comp. I think there's no problem as a 4th comp but can I use it as one of my first 3 comps and give it more weight?
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
I did that on a appraisal a few weeks ago. Not a problem if it is comp. 4 or higher.
 
D

Deleted member 134708

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I've done it plenty of times. Fannie Mae allows it. I quoted their selling guide. It's says can be used as a 4th comp.

What I've done is say it is a 4th comp, but put it as comp 1 on the grid. FNMA doesn't say what position, just 4th comp. went thru fine. Done few times.
 
D

Deleted member 134708

Guest
Quote Selling Guide B4-1.3-08 "The subject property can be used as a fourth comparable sale or as supporting data if it was previously closed."

Put as comp #4 or put as 1-3. If put as 1-3 say, comps arranged by gross adjustments required. State subject is used as a 4th comparable sale.
 

normando

Senior Member
Joined
May 2, 2009
Professional Status
Certified Residential Appraiser
State
California
Quote Selling Guide B4-1.3-08 "The subject property can be used as a fourth comparable sale or as supporting data if it was previously closed."

Put as comp #4 or put as 1-3. If put as 1-3 say, comps arranged by gross adjustments required. State subject is used as a 4th comparable sale.
Sounds good to me and technically following the Selling Guide.
 

Elliott

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Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
cartoon-tail-chase.jpg
 

EddieB

Elite Member
Joined
Feb 17, 2005
Professional Status
Certified Residential Appraiser
State
North Carolina
You could call the subject Comp #Tater but if you use it on the grid on page 2, then it's comp 1-3.

Use it as addl support but if you can't support your conclusion with other sales then have you supported value?
 

DTB

Elite Member
Joined
Jun 11, 2004
Professional Status
Certified Residential Appraiser
State
Illinois
Use it as addl support but if you can't support your conclusion with other sales then have you supported value?

Maybe
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
If Buyer A paid too much 8 months ago and Skippy appraised it out, if you use it as the best comparable, how do you know Buyer A didn't pay too much? I see this with VA purchasers frequently, way ahead of the market, no equity in the game.
 
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