[Code of Federal Regulations]
[Title 32, Volume 4]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 32CFR644.43]

[Page 132-133]
 
                       TITLE 32--NATIONAL DEFENSE
 
              CHAPTER V--DEPARTMENT OF THE ARMY (CONTINUED)
 
PART 644--REAL ESTATE HANDBOOK--Table of Contents
 
                          Subpart B--Appraisal
 
Sec. 644.43  Gross appraisals.

    (a) Preparation. (1) The gross appraisal sections of real estate 
design memoranda and planning reports are subject to minute scrutiny by 
higher

[[Page 133]]

authority in the Department of Defense and by Congressional Committees. 
It is essential that they be meticulously prepared to reflect actual 
market conditions and unit prices.
    (2) Each gross appraisal will be supported by detailed analyses of 
an adequate number of typical comparable sales. Each index sale will be 
analyzed to show various land classifications and values, building 
contribution estimates and other relevant information. The sales prices 
should be verified by someone having knowledge of the transaction.
    (3) Where letter-type or brief real estate design memoranda on civil 
works projects are submitted, comparable sales data will be presented in 
one of the following methods:
    (i) Be submitted within the report in a brief manner, with at least 
three truly comparable sales discussed in narrative form and comparisons 
shown to the subject lands covered by the memorandum.
    (ii) Be referenced to the last real estate design memorandum issued 
on the same project and if values have changed in the interim, 
additional sales data submitted to support the changes. If the last 
design memorandum is over a year old, new supporting data must be 
submitted.