When analyzing the subject property's sales history, USPAP requires analyzing ________.

• A. All sales of the subject property that occurred within three years prior to the effective date of the appraisal.
• B. Only the most recent sale.
• C. All arms-length sales in the market.
• D. No sales data is required.

Answer: (A)

USPAP requires you to examine how the subject property has changed hands in the recent past to understand any price movements or transfer factors that could affect current value. Specifically, you look at all sales of the subject property that occurred within the three-year period before the appraisal’s effective date. This three-year window helps reveal trends, conditions, or circumstances tied to the property itself—things you need to analyze to form a credible opinion of value.

Focusing only on the most recent sale would miss earlier transactions that could show price behavior or issues that influenced those transfers. Considering all arms-length sales in the market relates to market data for similar properties, not the subject’s own history, and isn’t what USPAP requires for the subject’s sales history. And stating that no sales data is required contradicts USPAP’s guidance.