Orange County NC Website
Sales involving family transfers, or "love and <br /> affection". <br /> Sales involving intra-corporate affiliations. <br /> Sales involving the retention of life interests. <br /> Sales involving cemetery lots. <br /> Sales involving mineral or timber rights, and access or <br /> drainage rights. <br /> Sales involving the transfer of part interests. <br /> Sales made at public or private auction. <br /> In addition to selecting valid market transactions, it is <br /> equally important to select properties which are truly <br /> comparable to the property under appraisement. For <br /> instance, sales involving both real property and personal <br /> property or chattels may not be used unless the sale can, <br /> with reliable facts, be adjusted to reflect only the real <br /> property transaction, nor can sales of non-operating or <br /> deficient industrial plants be validly compared with <br /> operating or non-deficient plants. The comparables and <br /> subject properties must exhibit the same use, and the site <br /> and structural characteristics must exhibit an acceptable <br /> degree of comparability. <br /> Processing Comparable Sales <br /> All comparables must be adjusted to the subject property to <br /> account for variations in time and location. The other <br /> major elements of comparison will differ depending upon the <br /> type of property under appraisement. In selecting these <br /> elements, the appraiser must give prime consideration to the <br /> same factors which influence the prospective buyers of <br /> particular types of properties. <br /> The typical home buyer is interested in the property's <br /> capacity to provide himself and his family a place to live. <br /> He is primarily concerned with the living area, utility <br /> area, number of rooms, number of baths, age, structural <br /> quality and condition, and the modern kitchen and <br />