incognito
Senior Member
- Joined
- Jul 14, 2005
- Professional Status
- Certified General Appraiser
- State
- Florida
I am using a comparable sale in an appraisal, where the MLS indicates a sold price of $200,000, and the Public Records indicates $205,000. The Realtor indicates that the actual contract was for $200,000, and that was the contract sale price, and the price she entered in MLS. However, at closing, the buyer and seller executed a new contract for $205,000, where the buyer was to receive $5000 at closing for improvements. Not really a unique situation.
My question is: How would you report the sale price on the sales grid of the appraisal. Yes, it must be fully explained in the report, but the sale price on the grid options, the way I see it, are:
1-Report a sale price of $200,000
2-Report the sale price as $205,000 and make a -$5000 conditions of sale adjustment.
Which way would you say is correct, or more correct, and why?
My question is: How would you report the sale price on the sales grid of the appraisal. Yes, it must be fully explained in the report, but the sale price on the grid options, the way I see it, are:
1-Report a sale price of $200,000
2-Report the sale price as $205,000 and make a -$5000 conditions of sale adjustment.
Which way would you say is correct, or more correct, and why?