In the context of appraisal, what is defined as "sales data"?

Sales data refers to information gathered from properties that have recently sold. This data is crucial for appraisers as it provides insights into the current market conditions and comparable property values. By analyzing recent sales, appraisers can establish trends in pricing, understand the demand for certain property types, and adjust their evaluations accordingly to reflect the most accurate market value.

Sales data typically includes specifics such as the sale price, sale date, property characteristics, and any conditions of the sale. This information aids appraisers in creating a well-supported opinion of value based on actual transactions, which is essential for various appraisal purposes, including loan underwriting, property taxation, and market analysis.

The other choices do not capture the essence of sales data in appraisal. Financial records of property tax payments pertain to tax obligations rather than market transactions. The buyer's personal data, while potentially relevant in some contexts, does not contribute to the value assessment of the property itself. Records of historical property ownership provide background on a property's title but do not reflect current market activity or comparable sales, which is the primary focus of sales data.