If any of your sold comps sold above their list price, please provide a comment in the 'Reasons for Adjustments' box explaining why the comps sold above their list prices.

OK I'll go to the house and ask the buyer why they paid more than the asking price. NOT!

These "companies" are just clueless. The blind leading the blind-- their clients are blind, and they're 90% blind. It's just horrendous.

I think they're just asking if there were Seller Concessions, like a contribution towards closing costs. Aren''t most MLS Systems showing Seller Concessions? Mine have been for years.

That's the readily available explanation IF it sold for more than the Ask.

On Solds, if none were reported I insert "None Reported";

If Currents, where none are offered, I insert "None Offered".

I always put a stock comment on my orders, if the house sells higher than the final list, and no seller contribution is noted.

Most of the time, the listing agent will enter it, but it's missing in some cases, or is still higher than the contribution listed.

And I'm pretty I started entering the statement, because I got QC'd with a similar comment, lol.

Not mine. And heck, it's no one's business anyway.

I just got a hit from QC this morning. Subject is 5 years old, upscale neighborhood, 2,900 GLA. Three priors have been done on this over the last 12 months. My final value was $100k over highest prior. All my comps are within 5 years in age, proximity 1/2 mile or less, GLA adjustment under 20%. They send me the address of each comp from priors......average age 23 years, GLA to 35%. I have been instructed to base my final value on priors and not current comps. I pointed out to QC the priors had a poor choice of comps. I admit $100k is a large value varience.....not my problem. My comps support my final value. Ya just gotta love it when "my opinion of value" chages to "our opinion of value". Oh, well, one less company to work for.

If there are concessions stated in the MLS that's easy.
But sometimes there are no concessions.
For example a listing could be $199,900 but sells for $205,000. Maybe there was a multiple offer situation that caused it to sell above asking but would not be known to us.

Got a great one yesterday; something to the effect of "Our client will not accept comparables that are separated from the subject by an interstate highway"

My immediate knee jerk reaction was to email back: "This is not gang territory in East LA. There is no crips and bloods warfare going on here. This is the burbs and the fact that the subject is of the same age, similar size, same elementary school is more important than the fact the the state decided to built the interstate between them in 1966"

Instead my better judgement overruled and I replaced one comp. Yeh I wussed out.

AVM BPO for Litton PA or SS?

They also don't want you crossing railroad tracks. Those requirements however go out the window if they want you to consider comps of their choosing. My take is if location was an issue with my selected comp, I have enough sense to use a downward location adjustment on the report.

Last month I had a report that was compared to comps they pulled via Trulia. If they are going to base a value of a property via an internet service such as that, what do they need me for????

Of course, those Trulia comps while within a mile of the subject (barely) were all taken from superior neighborhoods. One was even from the other side of the interstate which defies their own reasoning! They just couldn't comprehend such a dramatic difference in value between now and the time they let money on this home.

It's not my fault that there is $80,000 owed on a home now worth $15,000. Such is life..........

Wow Brad. I was kinda bummed that AVM rejected my recent application saying they had too many agents in my area. Maybe they are more trouble than they are worth from what y'all are saying.

They aren't that bad, you just need to know what they will accept and won't they will usually kickback no matter how much commentary you provide. Much of it rolls down hill from the lender, which I understand.

Just as long as you don't cross interstates and railroad tracks and keep all your comps within a 1/2 mile, you'll be fine. Sometimes I have to use one sold and one list between a 1/2 mile and one mile which they deem acceptable. Those close parameters means making rather large adjustments from time to time, but I'm just following their guidelines and tendencies in a suburban market.

I'll dance to whatever music they provide within reason.

Maybe you'll qualify for special dispensation from that AVM Valerie who still checks in with us from time-to-time . . . . and as I recall you've not burned any bridges.

I mentioned this forum in my application. I guess either they don't care or Val has nothing to do with the applications.

I have a rule of thumb with AVM reports.

You will get a QC back no matter what is on the report. The thing about it is that I do Litton for another mill without all of the silliness associated with the AVM returns.

Sometimes I think they pay their QC people on a piecework basis -

Maybe an email sent directly to her would clear up that matter. I could PM you that address if you'd like.

I see she hasn't been here for months, so it may be that her recent Newborn drew har attention away from a focus on BPOs . . . . that sometimes happens.