REOPro - Real Estate Default Professionals

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Non Conforming Property to the neighborhood

Selecting comps for the broker price opinion may be difficult at times.  Why? The property may be non- conforming to the neighborhood- it may be that the property a new construction amongst old construction in the area or it may have been unfinished.  Therefore if this is the circumstance you will need to find similar like properties by extending your search criteria possibly outside of the distance boundaries.  You will need to note this on your BPO if this is the case.  In the event that you are unable to find comps even by extending the search you will need to use the properties that do not conform to the subjects but make adjustments to the non conformities accordingly.

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