- Jan 17, 2002
- Professional Status
- Certified Residential Appraiser
- North Carolina
I've always avoided using "Presales" as comparable properties because I don't believe they are valid typical market sales for a market value appraisal. These properties are usually pretty easy to identify in the MLS because they indicate zero or sometimes one day of marketing time (although oftentimes the builder rep will say outright that they are presales in the listing) before they were sold. While these types of sales may be typical for some new developments, you can't say they received adequate market exposure before they sold. What do other appraisers think about this?