Property Valuation
An appraiser finds that a comparable home sold for $420,000. It has a garage worth $15,000 that the subject property lacks, and the comparable's lot is $10,000 smaller than the subject's. What is the adjusted sale price?
A$395,000
B$415,000✓ Correct
C$425,000
D$445,000
Explanation
Adjustments are made to the comparable, not the subject. Subtract the garage (+$15,000 feature on the comp) and add for the smaller lot (−$10,000 feature on the comp): $420,000 − $15,000 + $10,000 = $415,000.
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