Glossary of Terms
Original appraisal sales are the comparable sales identified in the original appraisal as support for the appraiser's value conclusion. The term is particularly relevant when an appraisal is reviewed, reconsidered or compared with a later valuation.
Reviewers examine the original sales to determine whether they were relevant and adequately supported the original analysis. They may consider whether the properties were sufficiently comparable, whether adjustments were supported, whether other relevant sales were available and whether market conditions have changed.
During a reconsideration of value, a requester may submit additional comparable sales for the original appraiser to consider. The appraiser can then explain why the original sales remain the most relevant evidence or determine whether the additional information warrants a change to the analysis or conclusion. Reviewing the original sales directly helps maintain a clear connection between the evidence and the original appraisal conclusion.