Subject Is Best Comp

[normando]

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]

I did that on a appraisal a few weeks ago. Not a problem if it is comp. 4 or higher.

 

[Deleted member 134708]

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.

 

[Terrel L. Shields]

Nope, not for secondary market. Can use 4+ comp, not as 1-3.

 

[Deleted member 134708]

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]

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]

 

[EddieB]

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]

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

Maybe

 

[Elliott]

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.