In the "sales comparison method," the appraiser adjusts the price of a similar property to match the value of the one being appraised. For example, if a comparable property is "superior," the appraiser will reduce its price to make it more comparable to the one being appraised.
These are questions that the above text answers:
1. What is the purpose of the sales comparison method in real estate appraisal?
2. How does the appraiser adjust the price of a comparable property in the sales comparison method?
3. What is the role of the sales comparison method in determining the value of a property?
4. What is the purpose of making a comparable property more comparable to the one being appraised?
5. How does the sales comparison method help in determining the value of a property?
6. What factors does the appraiser consider when adjusting the price of a comparable property?
7. How does the sales comparison method account for differences between the property being appraised and the comparable property?
8. What is the significance of using the sales comparison method in real estate appraisal?