Comparable Sales Clause Samples
The Comparable Sales clause establishes a method for determining the value of a property or asset by referencing the sale prices of similar properties or assets in the same market or area. In practice, this clause typically outlines the criteria for selecting comparable sales, such as location, size, condition, and date of sale, to ensure that the comparisons are relevant and fair. Its core function is to provide an objective and standardized approach to valuation, reducing disputes and ensuring transparency in transactions where market value is a key consideration.
Comparable Sales. The primary location of the comparable sales, including vacant lots and improved properties, utilized in the sales comparison approach and/or market extraction technique, shall be within the Comparable Neighborhood, as defined below.
Comparable Sales. Inside and Outside of New Projects The appraiser must demonstrate the marketability of homes built within new subdivisions or condominium projects by providing at least one (1) comparable sale from inside the subdivision or project and one (1) comparable sale from outside the subdivision or project.
Comparable Sales. Rate Parcel ID Typ Date Sale Price
Comparable Sales. The subject property appraisal must be supported by an analysis of recently closed comparable sales located near the subject property. The following key factors are considered in this review:
12.7.1 Proximity to the Subject Property Comparable sales should be located within one (1) mile of the subject property in urban and suburban areas. If two (2) of the three (3) comparable sales used by the appraiser exceed a distance of five (5) miles from the subject property, the property will be considered as rural. The appraiser must explain the necessity of using any comparable property located outside the neighborhood.