WHAT TO DO IN A WORLD WITHOUT SALES DISCLOSURE

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WHAT TO DO IN A WORLD WITHOUT SALES DISCLOSURE
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SPINNING SALES FROM STRAW
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WHO PAID WHAT?

• Sale price from buyer or seller
• Sales survey
• Sale price from realtor or fee appraiser
• MLS or other listing service (Co-Star, Loop Net)
• Fee appraisal land sales grid
• Merry Christmas
• Sale price from Deed or other recorded document.
• Sales price from newspaper or other public
  source
  

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THEY PAID WHAT??

• SALES SURVEY
• MLS
• CO-STAR
• LOOPNET
• MERRY CHRISTMAS
• SALE FROM DEED
• SALE FROM NEWSPAPER

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GUESS WHAT THEY PAID

• DEEDS AND OTHER PUBLIC RECORDS
• KNOWN LISTINGS THAT SELL

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RECORD SEARCH
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DEEDS

• OWNERSHIP CHANGES
• NAME CHANGE
• SAME MAILING ADDRESS FOR GRANTOR GRANTEE
• SALE OR TRANSFER OF PROPERTY
• NOTE AMOUNT?

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WARRANTY DEEDS

• NOTE AMOUNT?
• LAND ONLY?
• LAND SITE WORK?
• CONSTRUCTION LOAN?

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WARRANTY DEED
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Warranty deed
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WARRANTY DEED
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RESALE WITH NOTE AMOUNT
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Resale warranty deed
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NOTE AMOUNT
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AGREEMENTS
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REPURCHASE AGREEMENTS
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WHEN KNOWN LISTINGS SELL FOR UNKNOWN AMOUNTS

• Record listing and date to account
• Periodically check accounts against deeds to see
  if sold

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CONCLUSION

• THE BEST BET FOR APPRAISERS TRYING TO GET SALES
  TO JUSTIFY THEIR MARKET VALUES

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