Real Estate Practice : Lesson 2789
By David Saks, Broker / Industry Analyst
#2789 When a residential appraiser starts looking for comparables and a sales comparison approach is used he's interested in homes that have been occupied for at least two out of the last three years. Is this fact true or false ? Please remember to take your time. The solution is posted below the wildlife photo. A. False When a residential appraisal is undertaken and the appraiser wants to use comparables the appraiser wants to include homes that were sold within six months of the appraisal. When a sales comparison approach is used it considers the sales prices of homes sold within the last six months.