What does verification of a comparable sale involve beyond confirming the price?
Correct Answer
D) Confirming terms, conditions of sale and the property
Why this is correct: Verification requires confirming all relevant sale details: price, terms, conditions, concessions, property characteristics, and parties to ensure it's an arm's-length transaction. Why the other choices are wrong: Seller consent is not required. The appraiser's fee is irrelevant. Recording all party names may be part of verification but is not the primary goal. Exam tip: Verification means confirming the sale was arm's-length and the property as reported.
Why This Is the Correct Answer
Why this is correct: Verification requires confirming all relevant sale details: price, terms, conditions, concessions, property characteristics, and parties to ensure it's an arm's-length transaction. Why the other choices are wrong: Seller consent is not required. The appraiser's fee is irrelevant. Recording all party names may be part of verification but is not the primary goal. Exam tip: Verification means confirming the sale was arm's-length and the property as reported.
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