understanding square footage

[Jeffrey Mcintyre]

Hello and thank you in advanced.

i have a question about how square footage.

When running comps..what is an acceptable range when picking comps for a prospect- property?

for example: if i have a property that is 2100SQFT.

if i see houses with same number of beds and baths, etc...can i choose comps in the following range? 1800SQFT - 2300SQFT ..or is that too wide of a range.

im asking this question because everyone ive asked thus far says to pull "alike" properties with similar square footage....but never exaplained what is acceptable (no rule of thumb)

in addition...what to do if i dont see any comps?

please assist as this seems to be my biggest problem.

[Angelo C.]

Jeffrey Mcintyre
Most lenders and appraisers prefer to use no more than 20% sf difference. So, for your 2100sf home, the ideal range would be 1680sf - 2520sf.