Property Valuation
A NH appraiser who uses three comparables all located 20 miles from the subject property in a different market may produce an unreliable appraisal because:
AUSPAP requires comparables within 5 miles
BComparables from different markets may not reflect local market conditions and buyer preferences✓ Correct
CLenders require 10 comparables minimum
DThe distance makes the appraisal automatically void
Explanation
Appraisers should use comparable sales from the same market area. Using distant sales from different markets may not reflect local conditions, supply/demand dynamics, or buyer preferences — undermining the appraisal's reliability.
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