market comparison approach

market comparison approach

A method of appraising property by analyzing the prices of similar properties sold in the recent past and then making adjustments based on differences among the properties and the relative age of the other sale.More properly called the direct sales approach. See also comparables. The other two methods are the cost approach and the income approach.

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At the outset, the market comparison approach seems suitable, but Czechoslovak appraisers cannot use statistical methods because of the lack of sufficiently large data samples for comparison.
Appraisal methods in Czechoslovakia and their probable development

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