Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Does AIR prohibit the use of foreclosures as comparable sales?

April 26, 2017air comparable Foreclosures prohibit sales

0

Posted

Does AIR prohibit the use of foreclosures as comparable sales?

1 Answer

0

Posted

No. Freddie Mac does not prohibit appraisers from using Real Estate Owned (REO), foreclosures, or short sales as comparables sales. However, if the appraiser determines that REOs, foreclosures, or short sales are representative of the properties available to typical purchasers for the market in which the property is located, appraisers must consider their use.