Trouble with comps

[Barri Griffiths]

Hi everyone,

I've just had an offer accepted for a short sale, which doesn't work as rental, but could work as a flip if the numbers are right on the comps.

How are comps usually run, do they go on the price per sqft on similar properties in the same neighborhood, or is it usually done on the sale price of very similar homes.

I thought it was th later, but when doing comps for this short sale my realtors were going off the price per sqft of homes in the same community.

For example they used properties that were around 1200 sqft, with a price per sqft of 105-107, with a sales price of around 125-135k.

But my property is over 1400 sqft, they're telling me That the market value is around 155k. Which is 20-30k more for just 200 sqft extra. This doesn't seem right to me.

Also just by using the price per sqft for the comps I feel like there's many other factors that could contribute to the market value.

If my realtors are wrong, what should I do? It would clearly show that they don't know what they're doing. But I still need to get comps somehow in order to make an informed decision. And need them to close the deal if I choose to close?

Thank you in advance for any help!