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CABARRUS COUNTY 2012 APPRAISAL MANUAL <br />STEP 1 DEED DISQUALIFICATION SALES. This step entails examining deeds for any conditions or statements which <br />might indicate the sale was not an "arm's length" transaction. Those deeds having ANY of the following conditions should be <br />entered on the maintenance document as an unqualified sale using the disqualification codes found in this chapter: <br />1. Quit claim, corrective or tax deeds <br />2. State documentary stamps, $.50 <br />3. Same family name as to grantee and grantor <br />4. Deeds from or to banks or loan companies <br />5. Deeds indicating a trade or exchange or conveying less than whole interest, i.e. life estates, etc. <br />6. Deeds including live stock or personal property, i.e. trucks, equipment, cattle, etc. <br />7. Multi- parcel sales unless the amount paid for each parcel is specified <br />8. Deeds including exchanges of real or personal property <br />9. Deeds to or from any of the following <br />Administrators Clerks of Court <br />Executors <br />Guardians <br />Receivers <br />Sheriffs <br />Masters <br />Churches <br />Lodges <br />Fraternal Institutions <br />Benevolent Institutions <br />STEP 2 SALES RESEARCH. <br />Sales Qualification Procedures <br />County Commissioners <br />Counties <br />Trustees of Internal Imp. Fund <br />Cities and/or municipalities <br />United States of America or Federal Agencies <br />Utility Companies <br />Educational Institutions <br />Support staff is to qualify sales only from sales questionnaires, property owners, or information provided by appraisers and <br />realtors. Sales qualified in this manner are to have the type instrument changed to the type of financing from the list below if <br />the type financing can not be determined enter QF to let us know that a qualification form is on file. The forms are then to be <br />filed in the sales books by year and in PIN number order. Having the type financing in the instrument will allow us to know <br />that there is a qualification form on file for review as needed. All qualifications by deed stamps are to be made by an appraiser <br />and the type instrument should be changed to "DS" so everyone will know that it has not been properly qualified. <br />TYPE OF FINANCING <br />AR - <br />CA - <br />CV - <br />DS - <br />FH - <br />FM - <br />LA - <br />OF - <br />OT - <br />QF - <br />VA - <br />Cabarrus County — 2012 Revaluation <br />Adjustable Rate <br />Cash <br />Conventional <br />Deed Stamps <br />FHA (Federal Housing Administration) <br />Farmers Home Association <br />Loan Assumption <br />Owner Financing <br />Other <br />Qualification Form <br />VA (Veterans Administration) <br />SALES UTILIZATION & 2-3 <br />FAIR MARKET VALUE 8/9/11 <br />Attachment number 4 <br />G -3 Page 283 <br />