Standards Rule 1-5
| When the value opinion to be developed is market value, an appraiser must, if such information is available to the appraiser in the normal course of business: |
|
(a)
|
analyze all agreements of sale, options, and listings of the subject property current as of the effective date of the appraisal; and |
|
(b)
|
analyze all sales of the subject property that occurred within the three (3) years prior to the effective date of the appraisal. |
|
Comment: See the Comments to Standards Rules 2-2(a)(viii), 2-2(b)(viii), and 2-2(c)(viii) for corresponding reporting requirements relating to the availability and relevance of information.
|
|
|
|
|
|
|
|
|
|
Original content was published in The Appraisal Foundation site.
—-
Contact C.R.E.A.
Email: info@CompleteREA.com
Phone: +1 203 858 6727
Complete Real Estate Answers, Inc.
453 Webbs Hill Road
Stamford, CT 06903
Nana G. Smith, Proprietor
Web & Blog: CompleteREA.com (you are here)
Facebook
Twitter
Google+
41.065940
-73.543016
27 5th Street, Stamford, CT 06905, USA
Like this:
Like Loading...
Related
Complete Real Estate Answers 
Is an appraiser required to report the transfer history of a comparable listing/pending sale in the past 12 months? An AMC recently required me to remove this statement as the comparable was not a “Sale” and, thus, this disclosure/reporting is not required
USPAP requires reporting for “closed” sales, however this does not mean you should not report transfers for active/pending listings. The reason they require to remove it is, I think, they go with their check mark, and I guess check lists specifies “closed sales;” but on the same note listings should not go on regular gird either, and listings are not requirement to be in the grid to derive value. I think it is up to you, how you will structure your response; you can prove your right to report, or not to get into fight with them, you can remove this reporting from the grid, but still mention it in report.