Section 7: Comparable Sales Subsequent to the “Date of Taking”Anchor: #i1000247
The use of comparable sales in an update or additional appraisal report after the “date of taking” involves several factors the appraiser must consider. The factors involved in these sales are the possibility of their value increasing or decreasing due to a change in the general economy or because the sale is located on the project. In either case, it would be necessary for the appraiser to make certain adjustments in comparing the sale to the subject. If the change in value is due to a change in the general economy, the appraiser will make an adjustment for time just as he/she would if the sale occurred prior to the “date of taking.” Of course, the sale is assumed to be as comparable in other respects as is the usual comparable. In the case of a sale on the project, whether it is before or after the “date of taking,” or a remainder or whole property left with frontage, makes no difference since the factor to be concerned with is highway influence, good or bad. If there has been a large change in value due to the project, it is doubtful that the sale would be comparable in the usual concept. If it can be considered comparable, then adjustments must be made in comparing it to the subject just as with any other sale. The date of the taking or its location on the project is not actually pertinent if the sale is truly comparable in other respects.
Interoffice memoranda are available from the OAG, including a memorandum brief relative to the admissibility in evidence of sales that occur subsequent to the “date of taking.” The information contained in this brief merits close study and appraisers should be made aware of this information when preparing for trial.