Ever since the new URAR forms came out, I have been debating the active and sold comparable listings field with my fellow appraisers and so I'm hoping to turn that debate into a larger circle of professionals to attempt to get an answer that everyone might agree upon.
My co-workers are very specific about the criteria they set for the comparable active and sold sales while I tend to make it a broader spectrum and add sales that are bracketed with the usual age and size, but leave the criteria open to condition.
Recently, I reviewed a very thorough appraisal from a very respectable firm and it looked as if they listed all the actives and sold from the entire zip code in the fields.
I have yet to find anyone who has given me any absolute guidelines as to what should be entered in these fields, nor have I heard of an appraiser being questioned by a lender as to what criteria they are using in these fields.
Insight anyone?
Comments (20)Subscribe to CommentsComment