Verifying Sales

[DTB]

A statement offered as evidence of the bare fact that it was said, rather than for its truth, is not hearsay.

Good point and thus would never serve as "verification".

 

[Eli]

Could it serve as verification of what I used in forming my opinions and conclusions? e.g.....my opinion of buyer and seller motivations as they relate to the definition of market value.

 

[Eli]

What makes one appraiser's opinion more credible than another appraiser's as it relates to their opinions' of market value?

 

[DTB]

Could it serve as verification of what I used in forming my opinions and conclusions? e.g.....my opinion of buyer and seller motivations as they relate to the definition of market value.

What part of verify are people not getting? One cannot verify as fact information that came from that same source.

The listing says ABC, the agent saying "yup, it had ABC" is not verification. How could it possibly be?

 

[DTB]

What makes one appraiser's opinion more credible than another appraiser's as it relates to their opinions' of market value?

Don't veer off course now Eli. That is a different question.

 

[Eli]

Ok. Market analysis of sales indicates comp sold below market. I call agent and he says owner was under pressure to sell. That verifies the indication from market and helps me form my opinion and conclusion.

 

[DTB]

Ok. Market analysis of sales indicates comp sold below market. I call agent and he says owner was under pressure to sell. That verifies the indication from market and helps me form my opinion and conclusion.

Market indicates it sold low. Agent proffers that seller was under pressure to sell. OK, so far.

The agent did not verify your market indication did he? No, he gave you the owner's motivation, which may or may not have led to it's low sale. The agent did not verify that it sold low.

What if the sale was an outlier high? Agent says the sellers were under pressure to sell. Now what? The agent verified that it sold high?

You may then, form your opinion and conclusion.

 

[hastalavista]

Glad you got a chuckle, I just don't know why?

I laughed because I thought it was a good "gotcha" (against my point).
I see now where I should have said something like, "Ok, touché".

 

[Eli]

Agent and market indicate it was listed at market. Sold under market DOM.

 

[Eli]

Property sells above list and been on market typical DOM. Stable market. Indicates above market but when I call agent they tell me owner replaces flooring which verifies that property sold above list and explains why. And also changes my condition rating and makes me more credible in court than if I wouldn't have called agent.