How Far Back Do Appraisers Go For Comps

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Lenders are pulling back too much (like the pendulum swinging too far … appraisers seem to have less issues than when the scheduling service assigns appraisers [from] out of the area to do appraisal…

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Sep 11, 2012  · Under the standard uniform evaluation protocol, FHA residential codes, the appraiser is generally supposed to use only comps which are less than six months old…but they can go back a year, as long as they provide an explanation as to WHY…recently, with the massive number of foreclosures, banks tend to use appraisers who pull older comps and …

Agents would do … at an appraiser and say, “Here you go!” Opinions are good, appropriate data that supports them is great. It’s important to note that appraisals are a “look back.” While considerati…

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How appraisers choose comps Take, for example, the word “recent.” For Najm, that means 90 days or fewer. But according to Doug Perlson, co-founder and CEO of alternative brokerage RealDirect.com, “recent” can look back as far as six months, depending on the activity in the local market.

An appraiser typically goes back about 1 year. However, they still attempt to use the most recent comparables. Comparables do not necessarily need to be in the direct community of the subject property. Most appraiser’s try to use comps within 5 to 10 miles if there aren’t any in the direct vicinity.

No one knows the sellers’ true motivations and sometimes not even the sellers themselves know just how far they are willing to bend until they see an offer in front of them. What does … the comps an…

How far back are appraisers currently going for comps? Asked by C5000l, 92124 • Mon May 10, 2010. We worked very hard to get our house ready for sale. A same-model house down the street has been on the market for over 6 months.

When performing an appraisal for a lender/mortgage company, the appraiser has to choose comps that follow specific guidelines set by the lender. Here’s what some of these requirements often look like: For suburban neighborhoods, comps can be up to 1 mile away. For a rural neighborhood, comps can be up to 5 miles away.

Oct 06, 2014  · The next filtering parameter that should be considered is the age of sale. A house that has been sold recently is a better representation of current market conditions that a sale that transpired 6+ months back. The best comps are usually 1-90 days old; however, if …

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