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  • A-1 Comp. Sales Comparable Sales Analysis Form

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Form A1 Comp. Sale (1214) COMPARABLE SALES ANALYSIS FORM NAME: 1 PROPERTY LOCATION: BLOCK/LOT/QUALIFIER MUNICIPALITY: SUBJECT COMPARABLE SALES (YOUR HOUSE) BL. L. Q. #1 BL. L. Q. #2 BL. L. Q. #3 BL.

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How to fill out the A-1 Comp. Sales Comparable Sales Analysis Form online

Filling out the A-1 Comp. Sales Comparable Sales Analysis Form can help you present an effective argument regarding your property’s assessed value. This guide will provide step-by-step instructions to ensure you complete each section accurately and confidently.

Follow the steps to successfully complete the form.

  1. Click ‘Get Form’ button to obtain the form and open it in the editor.
  2. Begin by entering your property details. In the ‘Subject’ section, fill in your property’s name, block, lot, and qualifier (if applicable). Include the municipality to specify your location.
  3. Next, identify comparable sales properties. Enter the block and lot numbers for at least three properties that are similar to yours under ‘Comparable Sales’ #1, #2, and #3. Fill in their addresses as well.
  4. In the ‘Assessed Value’ section, enter the assessed value of your property as it appears on prior documents.
  5. Record the sale/purchase price of each comparable property as listed on their respective deeds.
  6. Input the date of sale/purchase for each comparable property using the closing or deed date.
  7. For lot size, specify dimensions such as ‘50’ x 150’ or state acreage. Add comments for characteristics like ‘wooded’ or ‘irregular shape’ under the ‘Additional Comments’ section.
  8. Assess the location of your property compared to the comparables, using descriptors like ‘better’ or ‘worse’.
  9. Indicate the proximity of the comparable properties to yours, noting whether they are in the same neighborhood, next door, or further away.
  10. For age, enter the year each property was built.
  11. Review and state the condition of each property. Use terms like ‘good’ or ‘excellent’ and confirm details from your observations.
  12. Identify the style of each property (e.g., ranch, colonial) to provide context for comparisons.
  13. Enter the square footage of the living area for each property.
  14. Document the number of living units each property has, ensuring appropriate comparisons.
  15. Count and record the total number of rooms, bedrooms, and baths in a standardized format.
  16. Specify the basement details, including size and finish percentage.
  17. Detail the heating type, specifying fuel and system type.
  18. Indicate whether central air conditioning is present and specify its operational status.
  19. Record the number of fireplaces, garage details, porches, decks, and patios provided in the section.
  20. If applicable, describe in-ground pools, including dimensions and conditions.
  21. List any miscellaneous items that may impact property value.
  22. In the ‘Additional Comments’ section, include any crucial details regarding each property that have not yet been covered.
  23. After completing the form, save your changes. You can download, print, or share the completed form as needed.

Start filling out your documents online today for a clearer property valuation.

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For example, an appraiser is considering a property that sold for $100,000 as a comparable. After all adjustments are made, the indicated value of the comparable is $121,000, a 21% difference in the comparable's sale price. This property, if allowed at all, would be a weak indicator of value.

Simply put, real estate comparables – or “comps” – are comparable properties in a specific area that you're looking to buy or sell in. Comps are used to determine the value of a home by comparing it to similar properties sold in the same neighborhood or in an area as close as possible to the house being valued.

During the valuation of a property a document called a Comparable Sales Report is created. This report shows the Cost and Sales Comparison Approaches that are used to determine the value of your home. This sheet is often referred to as the “comp sheet”.

Take the average cost per square foot for all comparable homes and multiply that number by the square footage of the home being appraised.

To appeal your property's assessment, File Form A-1 and Form A-1 Comp. Sale with the County Board of Taxation. Occasionally, property owners make changes or additions to real property after October 1, when municipalities set the value of property for tax purposes for the following tax year.

Real estate comps are recently sold homes that are similar to the property you're trying to buy or sell in terms of location, size, condition and features. Comps – an abbreviation of “comparable sales” – are used to determine a home's fair market value through the sales comparison approach to pricing property.

The comparable sales or market approach is a real estate appraisal method that is often used in determining the value of property in an eminent domain proceeding. Value is determined by comparing the subject property to other properties with similar characteristics that have sold recently.

The Sales Comparison Approach uses sales prices as evidence of the value of similar properties. The price at which a particular property sells is the price determined by the interaction of supply and demand at the time of sale. If supply or demand factors shift, prices generally rise or fall.

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