Where to put ratified offer price?

[Fernando]

I'm working on the sales grid adjustments in 1004.
I called listing agent on this pending sale and he gave me information on the offer (everyone loves Fernando).
I know it's not verifiable until recorded but usually agents don't lie to me.

On the sales grid, do you put the adjusted ratified price to be sold? Or do you not indicate it on the grid.
Normally, I would not put it and make comments below.
Yet then the agent purposely listed the comp low on purpose.
If not reading my comments, reader would think the adjusted price of the pending sale is low.

 

[sputnam]

Come on. Really? You are allegedly an appraiser. You use the best information that you can get and verified. If you have the contract price, that is what you use making sure that the report is clear that it's the contract price.. not the sold price.

 

[Fernando]

My question is instead of making just comments, where in sales grid can I increase to show the contract price? A separate line?

 

[sputnam]

My question is instead of making just comments, where in sales grid can I increase to show the contract price? A separate line?

No.. you show it where you would show the sales price... then, instead of a closing date you report the contract date and STATE that it is a pending sale. To quote our current President...."Come on, man."

 

[Tom D]

I think this is one of fernando's appraiser trainee asking a question. The 1st time this has happened to you. It's a pending sale. And if you know the contract price, then you make no adjustment for any list to sale price % difference, which would show on a 1004mc, the 1 thing it's good for. But you explain why not to avoid that stip in the lines below the comps..

 

[Fernando]

No.. you show it where you would show the sales price... then, instead of a closing date you report the contract date and STATE that it is a pending sale. To quote our current President...."Come on, man."

"Come on, man", you don't put the ratified price at the sales price. Misleading. That should be the listed price.
Ratified price is heresay and not confirmed.
I never adjust contract price in the sales grid but make a comment.
Just in case reader doesn't read my comments, I was thinking of adjusting it in the sales grid.
Unlike others, I'm constantly thinking of ways to make my reports more clear.

 

[sputnam]

"Come on, man", you don't put the ratified price at the sales price. Misleading. That should be the listed price.
Ratified price is heresay and not confirmed.
I never adjust contract price in the sales grid but make a comment.
Just in case reader doesn't read my comments, I was thinking of adjusting it in the sales grid.
Unlike others, I'm constantly thinking of ways to make my reports more clear.

I don't think you are a certified appraiser at all. This is trainee stuff. If you want to be hardcore.. Don't Grid Pending Sales.

 

[Surf Cat]

As I said in another thread Fernando.....you just set yourself up for forum members to tee up on you.

 

[Fernando]

I don't think you are a certified appraiser at all. This is trainee stuff. If you want to be hardcore.. Don't Grid Pending Sales.

Pending Sales are important if not more important in reflection of current market.
I call listing agents unlike my peers and get inside information on the ratified prices which is taken into account in my reconciliation.
Appraisal textbooks don't teach this but real appraisers know how to determine accurate values.
Not many are made to be real appraisers.

 

[Fernando]

As I said in another thread Fernando.....you just set yourself up for forum members to tee up on you.

I appreciate your insight. They can criticize but Fernando has been appraising for a long time and will continue as long as he can.