Appraisers: please verify your comparable sales

By
Real Estate Appraiser with Valuation Nation

All comparable sales used in an appraisal are verified. The MLS listing or (whatever source is used) is your primary information must be verified by a secondary resource (most often tax records).

During these turbulent markets many 'sales' sit in a 'pending' group on many MLS. Many of these MLS are configured to automatically push the listing to a 'sold' caterogy after a set period. These 'sales' do not show up on the tax records because they never actually sold. Calls to listing agents and other sources can be utilized to verify the sale. Tax records in certain areas have a lag in reporting sales, in which case the appraiser should comment accordingly and make the correct changes when neccessary (even months after the report was sent).

*Many MLS have a note / disclaimer / or mark the category 'Sold/Pending'.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the printer to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Comments 0 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the house to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the robot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainer
14,807

Rob Oryl

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the woman to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: