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2017 Level II Prep Class The Sales Comparison Approach 1Sales Comparison Approach The Sales Comparison Approach uses sales prices as evidence of the value of similar properties. The price at which
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How to fill out form sales comparison approach
How to fill out form sales comparison approach
01
To fill out form sales comparison approach, follow these steps:
02
Start by collecting relevant data such as the sales prices of comparable properties.
03
Identify the key characteristics of the subject property and the comparable properties such as location, size, condition, and amenities.
04
Adjust the sales prices of the comparable properties to account for differences in characteristics.
05
Analyze the adjusted sales prices to determine an appropriate value for the subject property.
06
Document all the information and calculations in the form sales comparison approach.
07
Review and double-check the completed form for accuracy and completeness before submitting it.
08
Make any necessary revisions or updates as required.
Who needs form sales comparison approach?
01
Real estate appraisers and professionals use the sales comparison approach as one of the methods to estimate the value of a property.
02
Buyers and sellers can also benefit from the form sales comparison approach to determine a fair price for a property.
03
Banks and lending institutions may require the use of the sales comparison approach to assess the value of a property before approving a loan.
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What is form sales comparison approach?
Form sales comparison approach is a method used in real estate appraisals to determine the value of a property by comparing it to similar properties that have recently sold in the same area.
Who is required to file form sales comparison approach?
Real estate appraisers are required to file form sales comparison approach when assessing the value of a property.
How to fill out form sales comparison approach?
Form sales comparison approach should be filled out by providing information about the subject property, comparable properties, adjustments made for differences, and the final estimated value.
What is the purpose of form sales comparison approach?
The purpose of form sales comparison approach is to provide an accurate estimate of the market value of a property based on recent sales of similar properties.
What information must be reported on form sales comparison approach?
The form sales comparison approach must include details about the subject property, comparable properties, adjustments for differences, and the final estimated value.
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