Site Comp Sale Date After Effective Date

[Sadie]

I seriously doubt if any state will cite an appraiser for stating a comparable as 'pending' as of the effective date of appraisal, then adding commentary in the body of the report that the comparable was pending as of the effective date, but settled before the signature date at $zzz,zzz, thus was afforded weight in the final reconciliation. On the contrary, I think there's a better chance an appraiser would be cited for ignoring that information in the reconciliation. I was an investigator for the TALCB, so it's not like I'm speaking from complete ignorance.

I never said ignore. I just said be careful. You are no longer the investigator right? So you have no say in any decision to move forward on an allegation. Again, just my point of view. You walk your path.

 

[alebrewer]

You walk your path.

You keep saying that, and then proceed to lecture about how it should, or should not, be. Maybe if you keep saying it enough, you'll start to listen to yourself.

 

[cejack]

In eminent domain, post-dated sales go to the weight of the evidence and not to their admissibility in my primary state of Nevada. See Elko v. Zillich in Google Scholar. There is also an eminent domain case in Arizona that I don't have the heart to look up right now that is similar in its written case law opinion.

I have engaged in testimony (deposition and court testimony) where I used post-dated sales since they were relevant and very similar or the same to the highest and best use conclusion of the subject.

So you can use them for litigation, at least here in my state. If you say that only applies to eminent domain, fair point. But I have always been able to state in my deposition and/or testimony if this is the finding for a taking of a citizen's property under the government power of eminent domain, then it is likely also fair for consideration in other legal situations. No opposing counsel has ever brought forth evidence that has shot that down when I've done this so I feel pretty comfortable offering that advice. If there is no case law in your state or if there is contrary law in your state, then obviously be careful and perhaps consider not using them as a numbered sale in your report.

So here's how it goes in court - opposing counsel criticizes you for using the post-dated sale - you cite the case law in your jurisdiction as supporting your decision to use post-dated sales, then you explain how they taught you how to do market conditions adjustments in your entry-level appraisal courses. You proceed to use an accepted and supported method of market conditions adjustment that will appear understandable and reasonable to the judge (bench trial) or to the jury (jury trial) and you're good to go.

The biggest weakness is if there are material market condition changes and you ignore those when using post-dated sales. Then you will have problems in that regard. Study the market conditions and address that if you use post-dated sales.