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How to Find Comparable Sales for an ROV Using AI
By Jason Taken · Principal, Jaken Finance Group
8 minute read
Find and verify comparable sales for an ROV. Research and drafting are free for current Jaken Finance Group borrowers; $99 once for non-borrowers.
To find comparable sales for a reconsideration of value, research transactions that competed with the subject property, verify the sale facts, and explain their relevance. AI can organize candidate properties and identify missing information. Each proposed comparable still needs a traceable source and a reason it helps answer a specific appraisal concern.
Start with the property’s characteristics and the appraisal’s effective date. Searching only for higher-priced homes can produce an impressive list that tells the lender very little about the property being financed.
Jaken Finance Group can help research and draft your ROV. The service is free for current borrowers and costs $99 as a one-time fee for non-borrowers. Request a callback if you need assistance finding and organizing supporting information.
What makes a sale a useful comparable?
A useful comparable offers evidence about what buyers pay for a property with relevant similarities. Those similarities extend beyond bedroom count and geographic distance. Property type, condition, layout, site, legal characteristics, and the competing market can all matter.
Fannie Mae’s guidance emphasizes competitive properties and explains that an older sale or one in a competing market can sometimes be more appropriate than a newer, closer transaction. The appraiser must explain the selection. There is no useful borrower shortcut that makes every sale within one mile automatically comparable. Fannie Mae comparable-sale guidance.
Your task is to provide a supported candidate and explain its relevance. The appraiser determines how it fits into the analysis. A short explanation of similarities and differences is more informative than a collection of links with prices highlighted.
Establish the subject property before searching
Create a brief subject-property profile using the report and supporting records. Record the property type, reported size, room count, site, condition, and relevant improvements. Note any facts that remain disputed.
Also identify the value being considered. A property in its current condition and the same property after planned renovation present different assumptions. If you are researching a renovation appraisal, read the scope carefully. Our guide to calculating after-repair value explains the broader investment context.
Use the appraisal’s effective date as a reference point throughout the research. Clearly identify transactions or facts that arose afterward, and ask the lender how to treat them. Later activity should not silently become evidence of an earlier market condition.
Where can you obtain verifiable sale information?
Begin with the records available for the property and market. An agent may be able to supply authorized listing history or transaction information. County records can help confirm recorded transfers and property details, although available fields vary.
Public real-estate websites can help locate candidates. Before relying on a figure, check whether it represents a completed sale, an asking price, a pending contract, or an automated estimate. Those categories answer different questions.
| Source | Potential use | Check before relying on it |
|---|---|---|
| Authorized MLS or agent records | Listing history and transaction details | Status, dates, concessions, and source identifier |
| County or recorder information | Transfer and property facts | Coverage, recording lag, and available price information |
| Public listing history | Discovering possible candidates | Whether displayed figures are confirmed sale facts |
| Supplied closing documents | Verifying a specific transaction | Permission to use them and relevance to the request |
| Appraisal exhibits | Understanding existing comp selection | The appraiser’s descriptions and explanations |
Preserve the source link or document reference and the date you checked it. If two sources conflict, show both and mark the fact unresolved until it can be confirmed.
Can AI access MLS data and pull the comps for you?
AI can help research accessible sources or analyze records supplied through an authorized data connection. A general chat tool does not inherently have a current MLS feed. Its ability to retrieve information depends on the specific tools and permissions available.
Require the system to return a source for each material field. If it cannot retrieve a source, ask it to leave the entry blank and explain what is missing. A convincing property description is not a substitute for a verifiable record.
This is where AI can reduce repetitive work: extracting comparable fields, placing them in consistent columns, and highlighting differences. You or your research provider still need to verify the evidence before it supports a lender submission.
Our AI-assisted ROV overview describes how the research fits with calculation checks and letter preparation. Keeping those tasks distinct makes the final request easier to follow.
Build a candidate table before choosing exhibits
Start with a working list rather than a finished argument. For each candidate, record the address, sale status, sale price, relevant dates, source, property facts, and a short explanation of the comparison.
Include a column for differences. A superior renovation, unusual site, additional unit, or different property type may affect the comparison even when the price seems attractive. Recording those differences protects you from overstating the evidence.
The worksheet below flags missing documentation and transactions dated after the appraisal’s effective date. It does not rank property values or decide whether the lender will accept a comparable. Use the flags to guide verification.
Before including a candidate, complete its “why relevant” explanation. A useful sentence might identify a similar design, similar condition at sale, and the same competing market. Add the important differences immediately afterward.
If you cannot verify the transaction, keep it as a research lead. A missing sale price should remain missing. Do not substitute an asking price while continuing to label the row as a completed sale.
Worked example: the highest price is not the clearest evidence
Assume a fictional subject is a 1,650-square-foot detached home with an updated kitchen and an unfinished basement. The appraisal describes its condition as average. You locate three possible sales while checking whether the renovation was adequately described.
| Candidate | Verified facts in this example | Research decision |
|---|---|---|
| Sale A | $355,000; similar size and design; updated kitchen; unfinished basement | Examine condition and market similarities further |
| Sale B | $410,000; substantially larger; extensive renovation; finished basement | Document significant differences before proposing it |
| Sale C | $375,000 asking price; still listed | Keep its listing status explicit; do not call it a closed sale |
Sale B’s higher price does not make it the strongest evidence. Sale A may provide a clearer comparison for the specific condition question. Sale C may offer market context, but its asking price is not a verified transaction price.
Do not turn this table into an average and label the result the correct value. The example illustrates a research decision, not an appraisal method. Your submission should explain the evidence and ask for its consideration.
Should you calculate your own adjustments?
You can identify differences and ask whether they were considered. Assigning a dollar amount requires support that a simple comparison table may not provide. Renovation cost, price per square foot, and a model’s suggested adjustment are not interchangeable measures.
Fannie Mae’s adjustment guidance calls for market-based analysis and explains that time adjustments consider changes between a comparable’s contract date and the appraisal’s effective date. Avoid assuming that a general annual price trend proves the adjustment needed for one transaction. Adjustment and market-conditions guidance.
If the report already contains an adjustment, you can check its arithmetic separately using our appraisal error checker guide. Label a calculation discrepancy differently from a question about the adjustment’s basis.
Turn the research into a concise submission
Select the candidates that best address the documented concern and fit the lender’s instructions. Do not overwhelm the request with every property researched. Confirm any limit on additional comparables before assembling the final exhibits.
For each proposed sale, include its source and a short explanation. State what is similar, what differs, and which issue it helps examine. If the original report already considered the sale, explain the specific fact or treatment you are asking to revisit.
Use our ROV letter template to connect these exhibits to your request. Keep the market research attached to the same version of the letter so references remain consistent.
Want help checking the candidate list? Request a research-and-drafting callback. Tell us which records you have, what remains unverified, and the lender’s deadline. Current borrowers receive the service free; the non-borrower fee is $99 once.
Questions about researching ROV comparable sales
How many comparable sales should I submit?
Follow your lender’s instructions for the applicable loan program. More properties do not automatically make a stronger request. Prioritize documented candidates that answer the concern, and keep weaker research leads out of the final exhibit set.
Does a sale have to be the newest one available?
Recency is one consideration. A newer sale can differ materially in condition, design, or market. Explain why a candidate is useful, including its relevant dates, instead of treating the newest transaction as automatically superior.
Can I submit a property I found on a public website?
You can research it as a candidate. Verify its status, dates, price, and property characteristics through appropriate sources, then follow the lender’s documentation requirements. Preserve the original link and note any unresolved information.
What if I cannot find evidence supporting a change?
Record that result honestly. It may explain why the appraiser selected the available sales. You can still ask for clarification of a specific concern, but the request should not claim support that the research failed to establish.
What does Jaken Finance Group charge to research and draft the request?
The service is free for current Jaken Finance Group borrowers. Non-borrowers pay a one-time $99 fee for ROV research and drafting. Request a callback to discuss your property, available records, and timing.