Help- 1 year sales history of comparable sale

[Mutyger]

Hello,

I was wondering, in the sales comparison grid for prior date of comparable sales (within 1 year) are you supposed to report the prior sales within 1 year of the effective date of the appraisal or 1 year prior to when the comparable sold.

I was always told to report the comparable history from 1 year from when the comparable sold.

For instance, I had a comparable sell in mid 12/2008, but it also sold in early 11/2008. Is this a relevant sale to post in the grid if its after the 1 year effective date of the appraisal.

If it is, do you have a source I can quote?

Thanks!

 

[TJSum]

You are correct. Just quote the instructions written on the form (My research did or did not reveal any prior sales or transfers of the comparable sales of the year prior to the date of sale of the comparable sale).

 

[Mr Rex]

FHA Appendix D:

Price of Prior Sale /Transfer​

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Report the price of the prior sale(s) or transfer(s) of the subject that occurred within three years of the effective date of the appraisal.​

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Report the price of the prior sale(s) or transfer(s) of each comparable for the year prior to the date of the comparable sale.​

 

[Mike Kennedy]

fannie 1004_05 ..page 5 of 6......see Certifications 5 & 6.

re subject:

USPAP Standards Rules 1-5 (a), (b)​

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(a) analyze all agreements of sale, options, or listings of the subject property
current as of the effective date of the appraisal; and
(b) analyze all sales of the subject property that occurred within the three (3) years​

prior to the effective date of the appraisal.

 

[Michigan CG]

No matter what the date of a previous sale was I report it. You can prove you looked at it and had the information.

Yesterday I typed in 12/17/92 as the last sale date for a comp. I had to obtain the information, why not report it?

 

[Pittsburgh Pete]

No matter what the date of a previous sale was I report it. You can prove you looked at it and had the information.

Yesterday I typed in 12/17/92 as the last sale date for a comp. I had to obtain the information, why not report it?

Amen to that!! If you got it, report it. What have you got to lose? You might gain a reputation for thoroughness!

 

[TITAN1]

No matter what the date of a previous sale was I report it. You can prove you looked at it and had the information.

Yesterday I typed in 12/17/92 as the last sale date for a comp. I had to obtain the information, why not report it?

Ditto, I do the same.

 

[Laughing Heir]

Amen to that!! If you got it, report it. What have you got to lose? You might gain a reputation for thoroughness!

Ditto. It also sometimes provides support for any statements you make in the report about market conditions.

Like TE said, if you checked it out why not report it.

 

[ZZGAMAZZ]

If I was the intended user and had to wade through extraneous data--being diligent I would devote additional time trying to determine whether the appraiser included it by mistake, or whether details beyond what is needed were purposely included--I would think "pedantic" rather than "thorough."

Anything reported beyond the 36- and 12-month thresholds should include comments concerning the rationale for going beyond what is requested.

 

[Riick]

Anything reported beyond the 36- and 12-month thresholds should include comments concerning the rationale for going beyond what is requested

Would doing that << Must resist, must resist, must resist, Sorry.... could not resist >> be "pedantic" rather than "thorough" ??

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