What are the three offer bands on a comp?
Download MarkdownComps no longer use three offer bands. Your offers are calculated under four exit strategies: Quick Cash, Fix & Flip, Novation, and Buy & Hold. They appear as cards in the Offer Strategy Summary on the comp's Overview tab and in d
Comps no longer use three offer bands. Your offers are calculated under four exit strategies: Quick Cash, Fix & Flip, Novation, and Buy & Hold. They appear as cards in the Offer Strategy Summary on the comp's Overview tab and in detail on the Offer Analysis tab, and they recalculate from your saved ARV, rehab, and assumptions.
The engine's own Cash Offer, Open-Market Offer, and MAO still appear on the Overview tab under Offer Report Values, as read-only reference numbers. If your offers look wrong for a property, check the Determined ARV on the Comparables tab and the Effective Rehab on the Rehab tab.
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- How long does a comp take?The comp engine runs in the background, so you can keep working while it does. When you click Run comp, the form confirms the request right away, and the finished comp appears in your comp list with its ARV, as-is value, and cash
- How do I run a comp?1. Click Comps in the left menu (https://app.closemagnet.com/comps). 2. Click Run a comp to open the comp form. 3. Enter the Street address, City, State, and Zip code. All four are required. 4. Optionally add a Contact name, a Con
- Where does the ARV on a comp come from?The comp engine provides an Engine ARV and an ARV range, shown on the comp's Overview tab under Offer Report Values, next to the as-is value, monthly rent, and the confidence score.
- Can I change the repair number on a comp?Yes. Open the comp and go to its Rehab tab. Set Source to AI Estimate, Checklist Estimate, or Manual Amount, adjust the checklist items if you use one, and click Save Rehab. The amount you chose becomes the Effective Rehab.