I have not seen Cert 7 discussed here. Certification 7 says: "I selected and used comparable salesthat are locationally, physically and functionally the most similar to the subject property." I see several problems with certifying this. Here's what I drafted for in our reports. Comments/analysis welcome. #7 of my certification page says: “I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.” It is important to clarify this statement so that the reader understands my scope of work in terms of comparable selection. There are typically no three comparables that are the most similar locationally, physically and functionally to the subject. One sale might be most similar locationally while another might be more similar physically and yet another might be a more recent sale, farther distant but highly relevant for its recent sale date. Instead, what I have really done is judged the comparables selected as being overall the most relevant. The choice of which sales to present is not limited to judging which are most similar in these three stated ways; making a decision solely on that basis could result in a misleading appraisal report and violate the standards with which I must professionally comply. Instead, good appraisal practice requires that I select sales that bracket or support the most relevant features of the subject. This include bracketing the indicated value with a sale that is higher and one that is lower; including at least one sale of similar size or bracketing the house size with one that is larger and one that is smaller; including at least one sale that is similar in quality or bracketing the quality with one superior in quality and one inferior and so forth. Further, because of the nature of the current market where prices have increased significantly for some period of time, I judge it very important to include recent sales. Therefore, I may exclude a sale that is more similar locationally or physically or functionally in favor of one inferior in one or more of these ways but which occurred more recently. The comparables presented are the result of this thought process and are judged to be most relevant for these reasons. It is most important that the comparables provide support for each of the adjustments made on the grid and accurately represent the relevant market. For new construction, FNMA requires that at least one of the comparables chosen be outside the subdivision. Therefore, there may be other sales within the subdivision that area locationally, physically and functionally more similar to subject that have been excluded in favor of the inclusion of at least one sale that is outside the subdivision.