Market Data Approach
Definition of "Market data approach"
Analysis of a real estate sales data to appraise real estate values. Sources of real estate sales data used in the market data approach include the official records of deeds and leases available in county clerks' offices and local assessors' offices. Other sources include the real estate agents involved in specific real estate transactions, principals to real estate sale, published transaction records and newspapers. The real estate market data must be analyzed to determine comparability in order to reach a valid appraisal value.
Popular Real Estate Terms
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Ownership of property by one individual. ...
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Buyer who is acting in good faith, is not aware of any outstanding claims or rights of others to the property, and has given valuable consideration as part of the business transaction. ...
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