No Comparables for Appraisal

[Thomas Ramaglia]

Greetings Everyone,

I am working on a bank financed real estate deal where the bank cannot find comps to use for an appraisal.  The criteria they are using is to compare it against other sold properties (going one year back) with the same number of units as the property being sold.  Does anyone know if this is the standard?  Could they not compare it against other properties with the same number of bedrooms? Do different lenders have different policies re. this matter?

Thanks in advance