What if it is a short sale. Do they take that into consideration? Also, the community is called
The Landings at Binks Forest. The home I am looking at is in Brindlewood. Some of the other subdivisions are much more expensive. Do they compare it to the whole community or the subdivisions that are on the same par. I know some of the homes there are extremely expensive, sold and for sale in the other subs, but in Brindlewood there isn't that much to compare it to. How does that work?
It depends on the realtor doing the BPO (appraisal) most are good enough to know what to do in this case which is quite common in Palm Beach county
Short-Sales and Foreclosures are currently driving the market price. They will look at your community and also use per square foot price. If necessary they will look for a similar home within a range.
Realtors and appraisers try to stay within the same subdivision. If there is not enough comps we go to comparable areas. As far as a short sale be willing to wait 2-9 months to get an answer.
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