South Dakota Codified Laws 36-21A-12.2. Broker price opinion and comparative market analysis defined
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For the purposes of this chapter, the terms, broker price opinion and comparative market analysis, mean an estimate prepared by a licensed broker or salesperson that details the probable selling price or leasing price of a particular parcel of or interest in real property and provides a varying level of detail about the property‘s condition, market and neighborhood, and information on comparable properties, but does not include an automated valuation model. A broker price opinion or a comparative market analysis is not an appraisal.
Terms Used In South Dakota Codified Laws 36-21A-12.2
- Appraisal: A determination of property value.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Source: SL 2013, ch 178, § 1.