Property Valuation
When using the sales comparison approach, an appraiser adds value to a comparable sale when the comparable has:
AA feature the subject property also has
BA feature that the subject property lacks✓ Correct
CHigher square footage than the subject
DA better location than the subject
Explanation
In the sales comparison approach, if the comparable property has a feature that the subject lacks (e.g., a pool the subject doesn't have), the appraiser subtracts that value from the comparable. Conversely, if the comparable lacks something the subject has, value is added to the comparable.
Related Florida Property Valuation Questions
- A Florida commercial strip mall has a potential gross income of $240,000, vacancy and credit losses of $24,000, and operating expenses of $96,000. The NOI is:
- A Florida property's assessed value is $280,000. The homestead exemption is $50,000. The school board millage is 6 mills and the county millage is 10 mills. What is the total annual property tax?
- Under USPAP (Uniform Standards of Professional Appraisal Practice), which of the following would be a violation?
- In Florida, 'external obsolescence' (economic obsolescence) is characterized by:
- A Florida appraiser assigns a 'time adjustment' to a comparable sale because the market has appreciated. This adjustment is:
- A Florida income property has an NOI of $72,000 and a capitalization rate of 8%. What is the estimated value using the income approach?
- Which of the following best defines 'market value' in a Florida appraisal context?
- The principle of 'substitution' in real estate appraisal states that:
Practice More Florida Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Florida Quiz →