What should appraisers aim for when selecting comparable sales?

Appraisers aim for minimizing required physical and locational adjustments when selecting comparable sales because this practice enhances the reliability and accuracy of the appraisal. By choosing comparables that are similar in key aspects—such as property size, location, age, and overall condition—appraisers reduce the need for significant adjustments, which can introduce uncertainty into the valuation process.

When comparables require extensive adjustments, it can make the appraisal less credible to stakeholders, such as buyers, sellers, and lenders. The goal is to find properties that closely resemble the subject property to ensure that the valuation reflects fair market conditions without the complications of multiple adjustments.

Additionally, selecting comparables with minimal adjustments fosters a more straightforward and transparent appraisal that is easier to defend if called into question. Ascertainable values become clearer, facilitating better decision-making based on accurate assessments of property value. This approach ultimately supports the objective of achieving a fair and justified evaluation of the subject property.