Property Valuation
A Washington appraiser developing the sales comparison approach must ensure that each comparable sale is:
AListed on the MLS to be valid
BAn arm's-length transaction between unrelated, knowledgeable buyers and sellers without undue pressure✓ Correct
CLocated within 1 mile of the subject property
DWithin 10% of the subject property's square footage
Explanation
Comparable sales used in the sales comparison approach must be arm's-length transactions — between unrelated parties, with both parties acting in their own self-interest, without unusual financing or undue pressure to buy or sell. Non-arm's-length sales may distort the analysis.
Related Washington Property Valuation Questions
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