Is pulling comparable sales an appraisal?

[itmustbeme77]

If somebody asked me to pull the most comparable sales to a specific property and I pulled the top 3-10 comparable sales and supplied those, would that be considered an appraisal? I was thinking mostly of doing this to help agents, buyers, or sellers understand what properties compare to the property they are selling or buying. Would I be subject to the record-keeping rules? Would there be anything else that I should make sure I have done when doing something like this? Any guidance would be greatly appreciated.

 

[Terrel L. Shields]

Yes. You are bracketing the value range.

 

[Meandering]

But,

If you put all the comparable sales in the computer, and let the computer decide which are the most comparable, then it's not, because no human made the decision.


Gotta love excel

 

[itmustbeme77]

Yes. You are bracketing the value range.

This is not necessarily true, if all the most comparable sales that I supply have less GLA and smaller site size but are similar in condition, quality, and many other features I may not be bracketing the value.

 

[KHS445]

Yes, as you are making decisions as to which properties you consider to be comparable.

No, if you provide them with the full list of potential comparables that meet a specific list of criteria. For instance all properties that sold in a particular market/neighborhood, between X and X dates, with square footage between X and X, with 3+ bedrooms, 2+ bathrooms, two car garage, etc.

 

[glenn walker]

Not unless you state a value. A list of comparables is just data nothing more or less.

 

[RSW]

Several USPAP instructors over the years have said that if the search criteria is filtered then it is an appraisal. Just pulling up all sales in an area is not filtering them. A Filtered data set would indicate a range in value for a specific type of property.

 

[gregb]

Several USPAP instructors over the years have said that if the search criteria is filtered then it is an appraisal. Just pulling up all sales in an area is not filtering them. A Filtered data set would indicate a range in value for a specific type of property.

How can a filtered comp search result in an appraisal if there is no existing engaged client? Prospective engagement is either an EA or HC.

 

[Overimprovement]

How can a filtered comp search result in an appraisal if there is no existing engaged client? Prospective engagement is either an EA or HC.

Would the client not be whoever 'someone' is in the original post?

 

[Digger88]

giving someone public information you had no hand in creating is not an appraisal.