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direct sales comparison approach |
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direct sales comparison approach Formerly known as the market data approach, this is an appraisal method in which the property being appraised is compared to sales of similar properties in order to arrive at a value.The appraiser identifies the comparable properties as being similar in time and somewhat similar in size, quality, use, and amenities, among other considerations. The appraiser then makes adjustments to the sales price of the comps,based on how they differ from the specific property. Example: A home with a three-car garage might be reduced by $25,000 in order to make it comparable to the subject home with a two-car garage. After making the adjustments, the appraiser then reconciles all the comparables to arrive at an opinion of value for the subject property. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| of the direct sales comparison approach despite the lack of comparable land sales in the neighborhood. |
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