Before a sales analysis is done, each sale must be categorized as either “qualified” or “unqualified.” A “qualified” sale is an arms-length sale that can be used for establishing value of other properties. A sale may be “unqualified” for several reasons, among which are:
· The buyer and seller are related
· The buyer and seller are business partners
· The sale is a result of a court order, a divorce settlement for example
· The property had a substantial physical change after the sale date
Establishing whether a sale is qualified or unqualified may require an inspection of the property and an interview with the buyer or seller or broker. Only “qualified” sales are used for sales analysis.
Follow link below to connect to Middlesex North Registry of Deeds to see sales reports for Tewksbury and surrounding towns.