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: |
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(a)
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analyze all agreements of sale, options, and listings of the subject property current as of the effective date of the appraisal; and |
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(b)
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analyze all sales of the subject property that occurred within the three (3) years prior to the effective date of the appraisal. |
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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.
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Original content was published in The Appraisal Foundation site.
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