Property Valuation
In the sales comparison approach, the term 'adjustment' refers to:
AChanging the listing price of the subject property
BAdding or subtracting value to equalize differences between the subject and comparables✓ Correct
CThe appraiser's fee
DThe lender's review of the appraisal
Explanation
An adjustment is made to a comparable's sale price to account for differences between the comparable and the subject property, equalizing the properties for comparison purposes.
Related Kentucky Property Valuation Questions
- An appraiser adjusts a comparable sale in Lexington upward by $5,000 because the comparable lacks a garage that the subject property has. This indicates:
- A Kentucky property has a monthly rent of $2,000 and the sale price is $264,000. What is the monthly gross rent multiplier (MGRM)?
- A Kentucky appraiser reviewing recent 'flip' transactions (buy-renovate-sell) in a neighborhood must:
- In the cost approach, what is the formula for estimating value?
- The annual depreciation rate of a 40-year economic life building is:
- Regression is an appraisal principle that states:
- In Kentucky, a homeowner who makes significant improvements to their property can expect the assessed value to:
- A Kentucky appraisal report that is prepared for a federally related transaction must comply with:
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →