Oct 28, 2016 - 08:04 AM
The intent in USPAP is for the appraiser to not only identify what the property sold for and when, but to put that transaction into perspective. Did it sell for more than it's now worth? Less? Why? Has the property been renovated or remodeled? Were there additions? Was a prior sale a distress sale? These are the types of things that users of appraisal services might expect when USPAP requires an "analysis" of prior transfers.