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Ideally appraisers should have at least three in-house market data sources; two public records sources such as Data Quick and NDC data, and MLS (Multiple Listing Services) which real estate agents typically use. In having this extensive market data bank, the appraiser will have the means to search and find the most recent and similar sales available and be able to cross reference the information for each comparable property to insure maximum accuracy.
When interviewing an appraiser, ask them what in-house data sources they use. If they do not use at least one public records data source plus MLS (an absolute must!!), tell them thank you...and then find another appraiser that does!
At Certified Appraiser Network, we use four data sources; this includes two public records data sources, MLS and an extensive in-house market data bank from recently appraised properties. We insure the most thorough and accurate reports delivered in a timely manner and at reasonable prices.
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