Home Buying in Los Angeles>Question Details

Lisalinn, Home Buyer in Los Angeles, CA

In a short sale,does the buyers realtor submit comps along with contract? Also, what is the acceptable distance and or radius to gather comps?

Asked by Lisalinn, Los Angeles, CA Fri May 3, 2013

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We try to collect Comps from within a mile of the subject property..but that is not always possible. We also try to get current information (not something years and years old). Yes your Buyer Agent will do this for you so you know how to construct your offer.
0 votes Thank Flag Link Sun May 12, 2013
Hello Lisalinn,
Thank you for allowing me the opportunity to answer your questions. A good Realtor should always educated the buyer in buying process .. I always provide comps and any other relevant information so that the buyer can make a good decision. The comps may or may not help you ; the banks will have their own comps ..
If my client understands the sometimes long process in buying a short sale and they are 100 % committed to the property .
I have many step that I perform in order to get the bank to reconsider their price if you can justify and I mean justify a different price.
The norm is to stay within a 1 mile , depending on the property uniqueness..
0 votes Thank Flag Link Fri May 3, 2013
No comps are needed to submit with offer. Short sale lender will order their own comps.
If no similar comps are within a mile, you can go 2 or 3 miles. It depends what uniqueness this property is.
0 votes Thank Flag Link Fri May 3, 2013
Hi Lisalinn,

With any deal a buyer's realtor should provide comps to you as a buyer prior to writing your offer. The bank does their own appraisal of the property to determine value.
0 votes Thank Flag Link Fri May 3, 2013
Does the buyer's realtor need to submit comps?
0 votes Thank Flag Link Fri May 3, 2013
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