1.3.1.5. Sales History. Since any recent, unforced sale of the subject property can be the best evidence of its value, it is important to collect data on all sales of the property for the 10 years prior to the effective date of value.41 Any offers to buy or sell the subject property should also be identified and evaluated if available. If no sale of the property has occurred in the past 10 years, the appraiser shall identify the most recent sale of the property, whenever it occurred. 

These Standards require
a 10-year sales history—
longer than that required in
appraisals for many other
purposes—for the reasons
discussed in Section 4.4.2.

Information to be identified and reported under Section 2 shall include name of the seller, name of the buyer, date of sale, price, terms, and conditions of sale.42 As part of this process, the appraiser should verify the information with a party to the transaction and determine whether the transaction met the conditions required for a comparable sale under Section 1.5.2.1.