Question: A comparable property sold recently for $250,000. The comparable contained an estimated $3,000 in nonrealty items. In addition, the appraiser estimates that market values (conditions)
A comparable property sold recently for $250,000. The comparable contained an estimated $3,000 in nonrealty items. In addition, the appraiser estimates that market values (conditions) have increased a total of 2 percent since the sale of the comparable. Required: 1. What is the adjusted price of the comparable if the dollar adjustment for nonrealty items is made before the market conditions adjustment? 2. What is the adjusted price of the comparable if the percentage adjustment for market conditions is made before the adjustment for nonrealty items? 1. Adjusted sale price of comparable 2. Adjusted sale price of comparable
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
