Real Estate Word of the Day
Abnormal Sale – An abnormal sale is one that does not represent a typical real estate transaction. It may be the result of a parent selling to a child or sibling or it perhaps it reflects the terms of the owner’s will.
Example: A real estate appraiser discovers the sale of a house for $200,000 in a neighborhood where the normal price is $300,000. The appraiser does not use it as a comparable because the conditions requisite for market value were not present in this abnormal sale.*
*Dictionary of Real Estate Terms