Property Valuation
A comparable sale used in the sales comparison approach should ideally be:
ALocated in any part of the state as long as it sold recently
BSimilar in size, use, and condition, and sold within a reasonable time in the same market area✓ Correct
CThe least expensive sale in the area to ensure a conservative estimate
DAlways a foreclosure sale to reflect distressed market conditions
Explanation
A good comparable sale (comp) should be: similar to the subject in terms of size, condition, location, and use; a recent arm's-length sale in the same or similar market area; and not a distressed, foreclosure, or non-market sale (unless adjustments are made for these factors).
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