Section 21
Prior Sale and Transfer History
Appendix F-1, page 208
The Prior Sale and Transfer History section always displays and includes information and analysis regarding the recent transfer history of the subject property, and of the comparables appearing in the Sales Comparison Approach section. This section provides space for analysis and exhibits.
Subject Property for the Past Three Years / Comparables for Past Year#
The appraiser must report on all prior sales or transfers (not the current sale) for:
- Subject property for three years prior to the effective date of the appraisal, or longer if relevant.
- Each comparable property in the Sales Comparison Approach:
- For the comparables, this section is for reporting sales that occurred within one year prior to the sale or listing reported in the Sales Comparison Approach. Do not repeat the same information that is already reported in the Sales Comparison Approach.
- Settled Sales: All sales or transfers 12 months prior to the comparable sale date as reported in the Sales Comparison Approach.
- All other non-settled comparables (Active, Pending, or Off Market): All sales or transfers 12 months prior to the effective date of the appraisal.
Subject Transfer History#
Example: Prior Sales for Subject Property#
Example: No Prior Sales for Subject Property#
Prior Sale and Transfer History: Subject Transfer History
| Report Field ID | Report Label | When to Include | Allowable Answers / Format | Definition / Additional Guidance |
|---|---|---|---|---|
| 21.000 | Prior Sales or Transfers | Always required | Yes | No | - Yes (there are relevant sales or transfers, either within or beyond the reporting period) - No (there are no relevant sales or transfers. "None" displays, and the Transfer Terms table does not display). |
| 21.001 | Data Source | Required if Prior Sales or Transfers is No | Choose one or more allowable answers from the Definition / Additional Guidance column | Data source(s) used to research the prior sale or transfer history. - Assessor Record - Builder or Developer - Cooperative Board - Data Aggregator - Deed - HOA - MLS - Previous Appraisal File - Property Management Company - Property Owner - Property Tenant - Other (Describe) For reference, see the Statement of Assumptions and Limiting Conditions relevant to data sources and Appraiser Certification 8. |
Comparable Transfer History#
The Comparable Transfer History subsection shows information about each comparable in the Sales Comparison Approach section.
Comparable Transfer History
| Report Field ID | Report Label | When to Include | Allowable Answers / Format | Definition / Additional Guidance |
|---|---|---|---|---|
| 21.007 | # | Required for each comparable in the Sales Comparison Approach section | 1, 2, 3, … | The numerical order assigned by the appraiser to each comparable in the Sales Comparison Approach section (22.01.06), commonly referred to as the "comp number." |
| 21.008 | Transfer Terms | Required for each comparable in the Sales Comparison Approach section | Yes | No | Prior Sales or Transfers for Comparable - Yes (there are relevant sales or transfers, either within or beyond the reporting period). - No (there are no relevant sales or transfers. "None" displays, and the appraiser must also report their Data Source(s). |
| 21.011 | Data Source | Required if Prior Sales or Transfers is No for the Comparable | Choose one or more allowable answers from the Definition / Additional Guidance column | Data source(s) used to research the prior sale or transfer history. - Assessor Record - Builder or Developer - Cooperative Board - Data Aggregator - Deed - HOA - MLS - Previous Appraisal File - Property Management Company - Property Owner - Property Tenant - Other (Describe) For reference, see the Statement of Assumptions and Limiting Conditions relevant to data sources and Appraiser Certification 8. |
Information for each Sale or Transfer#
If more than one prior sale or transfer of the subject property or any of the comparable sales occurred within the applicable time period, the appraiser must provide all the applicable details for each.
Prior Sale and Transfer History Details (for Subject and Each Comparable)
| Report Field ID | Report Label | When to Include | Allowable Answers / Format | Definition / Additional Guidance |
|---|---|---|---|---|
| 21.002 21.008 |
Transfer Terms | Required for each sale or transfer | Choose an allowable answer from table (Ownership Transfer Type) | Ownership Transfer Type: The type of ownership transfer of real property as recognized in the jurisdiction in which it is located. - Deed Transfer Only - Sale |
| 21.002 21.008 |
Transfer Terms | Required for each sale or transfer if Ownership Transfer Type is Sale | Choose an allowable answer from table (Prior Sale Type) | Prior Sale Type: The terms of the prior sale or transfer. - Court Ordered Non-Foreclosure Sale - Estate Sale - Foreclosure Sale - Land Sale - Pre-Subdivision Sale - Sale Between Related Parties - Relocation Sale - REO Post Foreclosure Sale - Short Sale - Typically Motivated - Other (Describe) Note: If more than one Transfer Term applies, select the most applicable one and provide details in: - Analysis of Prior Sale or Transfer History of Subject Property (21.006). - Analysis of Prior Sale or Transfer History of Comparable Sales (21.012). |
| 21.003 21.009 |
Date | Required for each sale or transfer | mm/dd/yyyy | The date of the prior sale or transfer. |
| 21.004 21.010 |
Amount | If available for each sale or transfer | Dollar amount | Prior Sale or Transfer Amount: The dollar amount of the prior sale or transfer. Provide the dollar amount of the prior sale or transfer, if known, in whole dollars. Fractional amounts must be rounded to the nearest dollar. For transfers with no monetary consideration such as gifts etc., report $0. If the dollar amount is not available, provide the Ownership Transfer Amount Not Available Reason, as indicated below. |
| 21.004 21.010 |
Amount | Required for each sale or transfer if Prior Sale or Transfer Amount is not provided | Choose an allowable answer from table (Reason Price Not Available) | Ownership Transfer Amount Not Available Reason: The reason why the prior transfer price is not available for the transaction. In some jurisdictions, the price of prior sale(s) or transfer(s) is not disclosed in the public records or not otherwise available to the appraiser in the normal course of business. - Not Disclosed - Not Recorded - Other (Describe) |
| 21.005 21.011 |
Data Source | Required for each sale or transfer | Choose one or more allowable answers from the Definition / Additional Guidance column | Data source(s) used to research the prior sale or transfer history. - Assessor Record - Builder or Developer - Cooperative Board - Data Aggregator - Deed - HOA - MLS - Previous Appraisal File - Property Management Company - Property Owner - Property Tenant - Other (Describe) For reference, see the Statement of Assumptions and Limiting Conditions relevant to data sources and Appraiser Certification 8. |
Prior Sale or Transfer Types#
Indicate the Prior Sale Type from the list of allowable answers. If more than one sale type can apply to a prior sale or transfer, select the most applicable one, and comment on any additional sale types that applied for the transfer in Analysis of Prior Sales and Transfer History of Subject Property (21.006) or Analysis of Prior Sales and Transfer History of Comparables (21.012), as applicable.
Ownership Transfer Type (Choose one for each Sale or Transfer)
| Allowable Answer | Definition / Additional Guidance |
|---|---|
| Deed Transfer Only | A non-sale deed transfer or recordation (e.g., quitclaim deed). |
| Sale | A sale transaction. |
Prior Sale Type (Choose one for each Sale)
| Allowable Answer | Definition / Additional Guidance |
|---|---|
| Court Ordered Non-Foreclosure Sale | A sale in which a judge has ordered the sale of the property for purposes other than foreclosure or estate resolution. |
| Estate Sale | A sale as a result of disposition of assets from an estate. |
| Foreclosure Sale | A forced sale of the property as a result of default. |
| Land Sale | The sale of undeveloped or minimally developed land. |
| Pre-Subdivision Sale | The sale of a parcel prior to subdivision resulting in the splitting of the property into multiple parcels. Select this answer when reporting the details of the original un-subdivided sale. Example: 30,000 square foot lot with previous sale of $100,000, subsequently subdivided into three lots, with the subject (or comparable) selling for less than $100,000. |
| Sale Between Related Parties | The sale of a property in which the buyer and seller have a relationship independent of the transaction (e.g., business partners, family members, employer/employee, landlord/tenant). |
| Relocation Sale | A property being sold as part of a relocation program. |
| REO Post Foreclosure Sale | The sale of a property from inventory that has been acquired through foreclosure, deed-in-lieu of foreclosure, or similar legal processes by the lien holder (e.g., a bank selling property to individual(s) or to another entity). |
| Short Sale | A sale of property in which the lien holder accepts less than the debt or obligation against the property. |
| Typically Motivated | A sale that occurs under open and competitive market conditions where both parties are well informed, acting in their own best interest. Note: Most arm's length sales are typically motivated. |
| Other (Describe) | Select Other to enter an answer that is not in the above list, e.g., Private Sale. |
Reason Price Not Available (If applicable, choose one for each Sale or Transfer)
| Allowable Answer | Definition / Additional Guidance |
|---|---|
| Not Disclosed | Sale or transfer price is not available to the general public or to the appraiser in the normal course of business. Example: Non-disclosure states |
| Not Recorded | Information not on file in the local jurisdictional authority. Example: Delays in recording |
| Other (Describe) | Select Other to enter an answer that is not in the above list. Example: Confidentiality requested by client |
Analysis of Prior Sales and Transfers#
Analysis of Prior Sales and Transfers
| Report Field ID | Report Label | When to Include | Allowable Answers / Format | Definition / Additional Guidance |
|---|---|---|---|---|
| 21.006 | Analysis of Prior Sale or Transfer History of Subject Property | Always required | Free-form | The appraiser must explain the results of their analysis including research performed, details of the transactions, and any differences between the sales or transfers. |
| 21.012 | Analysis of Prior Sale or Transfer History of Comparable Sales | Always required | Free-form | The appraiser must explain the results of their analysis including research performed, details of the transactions, and any differences between them. |
Prior Sale and Transfer History Exhibits#
All photos or images related to the Prior Sale and Transfer History section are displayed in the Prior Sale and Transfer History Exhibits subsection. If there are no photos or images, this subsection does not display.
Prior Sale and Transfer History Exhibits
| Report Field ID | Report Label | When to Include | Allowable Answers / Format | Definition / Additional Guidance |
|---|---|---|---|---|
| See iGuide | Prior Sale and Transfer History Exhibits | If applicable | Photos or images | Photos or images relevant to the Prior Sale and Transfer History section may be provided, which display in Prior Sale and Transfer History Exhibits. If the photo or image is not specifically indicated above, provide a caption to further identify the photo. |