Property Valuation
When appraising a property using comparable sales, an appraiser makes adjustments to account for:
AThe appraiser's personal preference
BDifferences between the subject property and the comparables✓ Correct
CThe seller's desired price
DThe lender's required loan amount
Explanation
When using the sales comparison approach, an appraiser adjusts the sale prices of comparables upward or downward to reflect differences in features compared to the subject property.
Related Kansas Property Valuation Questions
- Which approach to value is most commonly used to appraise single-family residential properties?
- Which appraisal approach is most appropriate for valuing a special-use property like a church in Kansas?
- What is a comparative market analysis (CMA) in Kansas real estate?
- In Kansas, a 'multi-tenant office building' is typically valued using which appraisal approach as the primary method?
- A Kansas appraiser notes that a subdivision has deed restrictions limiting homes to a minimum of 2,000 sq ft. This information affects which adjustment in the sales comparison approach?
- What is the primary limitation of the sales comparison approach for unique Kansas properties?
- In Kansas, what does a 'feasibility study' for a new development project typically analyze?
- In Kansas commercial real estate, 'absorption rate' refers to:
Practice More Kansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kansas Quiz →