Property ValuationIntermediateDelaware Exam
In Delaware, which appraisal approach is most appropriate for a single-family home where there is an active resale market?
ACost approach
BIncome approach
CSales comparison approachCorrect
DReplacement cost approach
Why Sales comparison approach Is Correct
Answer C: Sales comparison approach
The sales comparison (market data) approach is the most reliable indicator of value for owner-occupied residential properties in active markets where comparable sales data is readily available.
Exam Tip: Property Valuation
Valuation questions focus on the three approaches to value: sales comparison, cost, and income. Know which approach is best for which property type. The income approach uses cap rate and NOI — memorize these formulas.
Key Property Valuation Terms in This Question
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