When comparing comps in Monsoon, you might see this “Not Recommended for Comparison” warning tacked onto a result. What this means is that the comp is not likely an “arms length transaction” and won’t deliver a fair comparison.
These properties will be included in the comp report unless you unselect them by unchecking the box on the far left. It will still appear as part of the list of results, but will not be factored in.
There are 15 major types of transactions that fall into this category.
- Zero dollar transfers
- Corrective Deeds
- Transfer from developer to developer (Conveyance within the same corporation)
- Failed trustee auction (The property reverted to a beneficiary)
- Bulk sales
- Government purchases
- Deed in Lieu of Foreclosure
- Transfer from bank to bank/GSE
- Sheriff’s Deeds
- Related Parties
- Duplicate Sales
- Relocation services (These will involve two transactions, but we only count one)
- Partial Interest conveyed
- Extreme differences between FCV and reported sales price (An example of this would be when the affidavit of value reports $37,000 but the FCV indicates the price should have been $370,000 and there is no MLS sales price to confirm)
- Affidavit of Value does not report a sales price and there is not accompanying MLS sale
To learn more about the Monsoon Tax System, take our online course.
