Profile picture for jayanton

When making comparables for a mortgage lender, do the homes compared have to be of the same type?

  • April 29 2009 - Phoenixville
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Answers (2)

Profile picture for jdaywalt
Good Evening,

The appraisers will absolutely do everything they can to be sure that the subject property is compared with other properties.  Normally they will look at properties within 1 mile of the subject property however if there are enough comps in a particular neighborhood they will use them.  For example a single ranch home would be hard to compare to a single 2 story home.  A single home will not be compared with a twin or townhome.  Hope this helps.

Jennifer Daywalt, Realtor
Re/Max Results Realty
Top Realtor 2004, 2005, 2006, 2007, 2008
Author of "Ask The Realtor" - Saturdays in The Phoenix Newspaper
610-999-7693 Direct
610-489-7355 Main
Sellinghomesjenn@aol.com
www.JenniferDaywalt.com
  • April 29 2009
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Profile picture for gazarsgo
a comparable isn't a comparable if it isn't a similar home ...
  • April 29 2009
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