Louis Pompeo
Member
- Joined
- Nov 23, 2007
- Professional Status
- Certified General Appraiser
- State
- Mariana Islands
39 posts and only 1 got it right.
Lots of blah blah blah on this topic and everyone is overlooking the elephant in the room.
MLS sales and the like are secondary data.
We have to use primary data in our reports.
The participants to the cash transaction should be interviewed. Then, and only then can the appraiser determine if there was a discount on that sale. That makes it primary data.
There may have been a discount.......and if there was.....it probably had nothing to do with cash.
We don't do our appraisals in "Appraisers Forum" or get our adjustments here. If we do - we're all in serious trouble.
Pam is 100% correct.
Lots of blah blah blah on this topic and everyone is overlooking the elephant in the room.
MLS sales and the like are secondary data.
We have to use primary data in our reports.
The participants to the cash transaction should be interviewed. Then, and only then can the appraiser determine if there was a discount on that sale. That makes it primary data.
There may have been a discount.......and if there was.....it probably had nothing to do with cash.
We don't do our appraisals in "Appraisers Forum" or get our adjustments here. If we do - we're all in serious trouble.
Pam is 100% correct.