Property Valuation
A Florida appraiser applies a 10% adjustment to a comparable sale for location. The comparable sold for $380,000. The adjusted comparable value is:
A$342,000✓ Correct
B$418,000
C$290,700
D$380,000
Explanation
If the comparable has a better location than the subject (inferior subject), the adjustment is negative (subtract from comparable). $380,000 × 10% = $38,000.
People Also Study
Related Florida Questions
- A Florida home sold for $350,000. The comparable sale has an extra bathroom worth $8,000. The comparable does NOT have a garage that the subject has, worth $12,000. What is the adjusted comparable sale price?Property Valuation
- A Florida appraiser assigns a 'time adjustment' to a comparable sale because the market has appreciated. This adjustment is:Property Valuation
- An appraiser finds that a comparable home sold for $285,000 but has an extra half bathroom that the subject property lacks. If a half bathroom contributes approximately $3,500 to value, what adjusted sale price is used for comparison?Property Valuation
- A Florida residential appraiser adjusting for garage space differences uses a $5,000 adjustment per garage space. A comparable has a 2-car garage and the subject has a 1-car garage. The adjustment applied to the comparable is:Property Valuation
- A Florida property rents for $2,200 per month. The gross rent multiplier (GRM) for comparable properties is 150. What is the estimated value?Real Estate Math
- A Florida appraiser uses the cost approach on a home. Land value = $80,000; construction cost new = $240,000; accrued depreciation = $36,000. What is the estimated value?Real Estate Math
- A Florida property sold at a tax deed sale. Does the buyer receive clear title?Property Ownership
- A Florida property is sold at a tax deed sale. Which of the following claims might survive the tax deed sale?Escrow & Title
Key Terms to Know
Comparable Sales (Comps)
Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Study This Topic
Practice More Florida Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Florida Quiz →