INSTRUCTIONS FOR COMPLETING THE SALES VALIDATION QUESTIONNAIRE
One Part Form
ITEM 1 Please check all boxes which pertain to the sale.
ITEM 2 Check the box which describes the current or most recent use of the property at the time of sale. Check all boxes which are applicable if the property has multiple uses.
ITEM 3 Check yes if the buyer assumed any long term lease(s) (more than 3 years remaining) at the time of sale. Enter the years remaining if known. Check the box if a tenant (renter or lessee) purchased the property.
ITEM 4 Check yes if the purchase price included an operating business that may include intangible personal property such as a franchise, trade license, patent, trademark, stocks, bonds, and/or goodwill. Estimate the value of the intangibles if this was part of the purchase agreement and included in the total sale price.
ITEM 5 Check yes if any tangible items of property were included in the sale price. If possible, provide a brief description and your estimate of all personal property included in the total sale price.
ITEM 6 Check yes if the property characteristics changed after January 1st of the sale year. Indicate what type of major change(s) (such as demolition, new construction, remodeling, rehabilitation) took place by marking the appropriate box. Indicate the approximate date the changes took place and the approximate cost.
ITEM 7 Check yes if any delinquent property taxes were paid by the buyer and included as part of the sale price. Do not include the estimated real estate taxes prorated for the year the property sold included as part of the typical escrow closing cost.
ITEM 8 Check the predominate method of financing used to acquire the property. Check "Not Applicable" if money did not exchange hands.
ITEM 9 Check yes if the property was advertised on the open market, listed with a real estate agent or broker, displayed a for sale sign, advertised in a newspaper or other publication, listed on the internet, and/or offered by word of mouth. A private sale is an exchange that was not made available to the general public or the property was not exposed on the open market.
ITEM 10 Check yes if the buyer owns or controls the property adjoining or adjacent to the property being purchased.
ITEM 11 Provide a brief explanation if either the buyer or seller did not act prudently, was not fully informed about the property, did not have knowledge of the local market, was poorly advised, did not use good judgment in the negotiations, was acting under duress, or was compelled to sell or buy the property out of necessity.
ITEM 12 Provide the total sale price and date of sale. The date should be the date that either the deed or the contract for deed was signed, not the date the deed was recorded.
ITEM 13 Please sign the questionnaire and list a daytime phone number. The county appraiser may need to make a follow up phone call to clarify unusual terms or conditions.
When a real estate sales validation questionnaire is not required due to one or more of the exemptions provided in 1-16 below, the exemption must be clearly stated on the document being filed. The Register of Deeds cannot add this information to the deed at filing.
TRANSFERS OF TITLE THAT DO NOT REQUIRE A SALES VALIDATION QUESTIONNAIRE:
(1)Recorded prior to the effective date of this act, i.e., July 1, 1991;
(2)made solely for the purpose of securing or releasing security for a debt or other obligation;
(3)made for the purpose of confirming, correcting, modifying or supplementing a deed previously recorded, and without additional consideration;
(4)by way of gift, donation or contribution stated in the deed or other instruments;
(5)to cemetery lots;
(6)by leases and transfers of severed mineral interests;
(7)to or from a trust, and without consideration;
(8)resulting from a divorce settlement where one party transfers interest in property to the other;
(9)made solely for the purpose of creating a joint tenancy or tenancy in common;
(10)by way of a sheriff's deed;
(11)by way of a deed which has been in escrow for longer than five years;
(12)by way of a quit claim deed filed for the purpose of clearing title encumbrances;
(13)when title is transferred to convey right-of-way or pursuant to eminent domain;
(14)made by a guardian, executor, administrator, conservator or trustee of an estate pursuant to judicial order;
(15)when title is transferred due to repossession; or
(16)made for the purpose of releasing an equitable lien on a previously recorded affidavit of equitable interest, and without additional consideration.
(b) When a real estate sales validation questionnaire is not required due to one or more of the exemptions provided in 1-16 above, the exemption shall be clearly stated on the document being filed.
If you have any questions or need assistance completing this form, please call the county appraiser's office.
