Appraisers must always adjust the value of the "comparable" property, not the "subject" property. If the comparable property has an extra feature, such as a pool or extra bedroom, they need to estimate its worth and subtract it from the overall value.
These are questions that the above text answers:
1. What is the role of appraisers in real estate?
2. When adjusting property values, which property do appraisers focus on?
3. What should appraisers do if the comparable property has additional features?
4. How do appraisers estimate the worth of extra features in a comparable property?
5. What is the significance of adjusting the value of the comparable property?
6. What factors do appraisers consider when subtracting the worth of extra features from the overall value?
7. What is the purpose of adjusting property values in real estate appraisal?
9. What is the difference between the "comparable" property and the "subject" property in real estate appraisal?
10. How do appraisers determine the overall value of a property after adjusting for extra features in the comparable property?