Tuesday, March 17, 2009
When it comes to comparable properties for collateral valuation, nothing is more important than location, according to speakers at the Fraud Issues Conference. Price and date of sale are also important, but experts here suggest that it’s better to use an older sale in the same neighborhood and make time adjustments than to go to a different neighborhood to get a more recent sale. In any event, the quality of the comparable sales is important and it depends, in part, upon the subject property’s history. Appraisers are required to report and analyze both the subject and the comps. More to follow…
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