I am working on a BPO which I can't find any CS within 6 months & worst the company wants CS of 4 months or less. I have tried everything! I have one from November which I have to do several adjustments on. What's my best route? What do you guys do in cases like this, I am trying to stay withing 1 mile (they even want 1/2 a mile)& I can't find anything. I called the two PS but they are still in the same status. Using the November sale I would be short one comp.

Do the best you can and add a ton of comments as to why you couldn't meet their requirements??

It is what it is; if the comps aren't there, it's not like you can birth them yourself.

Thanks, I will do that.

yep. I have found the best thing to do in this situation is just note the Heck out of everything....just go through your parameters..expand distance, time line, move the GLA a tad...explain why you did that and all should be good..(emphasis on should).
Best of luck with it,

Every once in awhile even though I have documented the heck out of problems with time and distance I pull up a quick cma, for their requirements and attach it. Usually I make a phone call first and ask qc to tell me which parameter they want to go left first, time, gla, or distance. Most are pretty certain which one can be stretched the farthest with their client. Sometimes that phone call saves me a lot of time trying to stretch things one way and then the other to make comps work. If I know that the preference for the client is to stretch the gla and keep the time frame it then I try to be consistent on all the comps.
Of course if you have two comps that fit the bill, I don't think having to stretch one comp is a big deal to document. It's when there are any comps that fit the subject's parameters in terms of time, distance, or gla that you really need help! The sooner I call the easier the job gets!

You can email the company you're doing the BPO for, tell them the situation, and ask how to proceed. This has worked for me many times, with the company instructing me to either go farther back in history, or expand my coverage area, etc. Always send an email and save their reply, in case you're ever asked to explain why you used comps outside of the normally suggested range. Good luck!

I typically go back a whole year to see if I find anything that works, once I can't meet their criteria, and then I pick the most recent comps from there. If there are still no comps, I expand the search area out . . . And then explain,explain,explain. If there isn't adequate room to explain fully, I wait for them to QC me and then e-mail back the point of contact to explain my search strategy and "how slow" the market has been in that area.

try ditching the gla and age criteria, then find a home that's bigger or newer but in a worse condition or location

and one that's smaller or older and in better condition

Expand your search to farther than 1 mile if market is similar in expanded area and explain why you did it.

Well considering the date of the original post - I think this BPO had better be done by now.

It is humorous to see people repeat the same advice already given - but I would like to ask - which company was this for?

Hi there, yes, I did finish my assignment it was not so bad. The company was AVM. As you all suggested, I did write a lot of notes!

Good for you!

AVM is not bad.

As long as you document and explain the market ... and that is the subject's market, and not the neighborhood ... couse the neighborhood could be 1 mile wide, but your subject's market could cover a larger area.

You just need to explain ... like you can't use suburban residential for a downtown subject and so forth.

It all depends and you just need to explain it. You are the professional !!

Can anyone tell me if an in-ground pool should be added value or deducted value on a BPO?

Thank you!

Which property has the pool and which property does not? If subject has a pool and the comp does not, you would add value to the comp (assuming the pool is a plus). If the comp has a pool and the subject does not, you would subtract value from the comp.

That depends on your market. I don't add OR subtract here as some buyers would consider it a positive and others a negative.

Would Hefner's mansion be the same w/o the pool and grotto?

I need help with unusual bpo. I am working on an unfinished, abondoned new construction project. Subject is (almost) a SFD. Estimted by client to need 75k to finish the project. I did not gain access to confirm this and have commented the estimate to finish was furnished by client. I did this order a year back and the client insisted I do it as a unimproved lot, since the is the lowest common denominator a lender would make a loan on-with no occupancy permit yet issued by the county.
This client wants it completed as SFD needing 75k in repairs. So I did this and I am getting static to change values or to change comps. I adjusted my values down (basically retail minus the repairs amount and an 'investor discount' There is no way anyone other than a builder or investor could or would buy this project. And it was booted back a third time. They want me to go higher on the values. I told them the only way I could go was even lower. Now I have this uneasy feeling about whole thing, thinking the 1st investor was spot on, approaching this as a lot only project.
Confounding this is limited comment space in the form. I have commented to the max already. I will not abandon the order but need some insight from anyone who might offer it.

Agreed with Neudot. I do the same.

Did you base it on New construction? Is there any new construction going on that you can supply the AM a flyer of the price ranges. Sorry, I would have done what you have done already. It almost seems they are telling you what price range to give. Good Luck.