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Line 1 - Total # of Comparable Sales (Settled)

On this line the appraiser should report the total number of closed sales of comparable properties within the neighborhood for each of the three time periods.  This information is usually readily available via examination of the closing dates for the sales.

Common Issue

Data Inconsistent with Date Reported on Page Two

The most common issue related to this line is reporting data that conflicts with the information reported at the top of page two.  Both sections of the report address the same fundamental data – the number of sales of comparable properties that have occurred within the neighborhood in the year prior to the effective date.  The difference is that on page two only the total for the year is reported, while in the 1004MC grid the data is broken down by the time period during which the sales occurred.

The total of the three entries on the first line of the 1004MC grid should equal the number of sales reported on page two of the URAR.

When these numbers do not match, it is an indication that the parameters used for each section are different.  The same parameters should be used because the same basic question is being answered in both sections of the report.

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