Study notes. AI-assisted reference for NMLS SAFE exam prep — verify against primary sources (CFR, statute, CFPB) before relying on it. Not legal advice.
Contract Date (Comparable Sale)
definitionappraisalmarket-conditions
The contract date of a comparable sale refers to the date on which a sales agreement was executed between the buyer and seller for a property used as a comparable in an appraisal.
This date is crucial for calculating The Appraisal Foundation. Appraisers use the period between the contract date of the comparable sale and the effective date of the appraisal to determine the appropriate adjustment for market changes over time.
Source material
- Market Condition Adjustments May 2025_PDF for Web
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This page is reference detail. The five SAFE exam study guides put it in context.