Property Valuation
A Kansas property's 'cash equivalency adjustment' in the sales comparison approach accounts for:
AThe buyer's cash reserves after closing
BThe difference in value when a sale involved unusual financing (below-market seller financing) versus typical cash or market-rate financing✓ Correct
CThe cost of converting the property to another use
DAnnual property tax adjustments
Explanation
Cash equivalency adjustments account for the impact of non-market financing terms on sale price. A property sold with below-market seller financing may have a higher nominal price than comparable cash sales.
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