What is one of the responsibilities of an appraiser regarding prior property transfers?

An appraiser's responsibility includes the obligation to analyze prior property transfers, but the analysis needs to be purposeful and relevant to the current appraisal assignment. The correct understanding is that appraisers should focus on analyzing prior transfers that impact the value of the property being appraised, recognizing that not all historical transfers are necessarily relevant.

Analyzing prior transfers helps appraisers understand the market trends, value fluctuations, and influences on the property's worth. However, it is not efficient or necessary to analyze every historical transfer indiscriminately; instead, appraisers should prioritize those that have a logical connection to the current appraisal process, ensuring that their analysis is both current and applicable.

This approach requires appraisers to exercise professional judgment to determine which prior transfers will provide pertinent insights into the property's valuation, aligning their analysis with the specific needs of the appraisal being conducted.