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Reporting Of Prior Comp Sales

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SEW24

Freshman Member
Joined
May 26, 2017
Professional Status
Licensed Appraiser
State
Kansas
Is the sale of the vacant lot from the developer to the builder prior to the construction of a new house considered to be a prior sale?
 

reviewbe

Sophomore Member
Joined
Oct 4, 2016
Professional Status
Certified General Appraiser
State
California
And, it can also be good info if you are including a land value, or to tuck away in your files to draw upon when you do have to estimate land value. Agree that you are required to report and analyze the transaction, but even if you weren't required to, it's one of those things that you ought to.
 

KenAZ

Senior Member
Gold Supporting Member
Joined
Jan 6, 2010
Professional Status
Certified General Appraiser
State
Dom. Republic
Typically it is a bulk sale of vacant lots, or a large parcel that is later subdivided. I just place a comment that the previous sales price of the subject was a bulk land sale before the subject was constructed.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
There is a Q and A that directly addresses this in USPAP
 
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