Property Valuation
In Missouri, 'comparable sales' used in the sales comparison approach should be:
AFrom anywhere in the country
BRecent sales of similar properties in the subject's market area that reflect current market conditions✓ Correct
CAssessed value comparisons only
DOnly distressed sales
Explanation
Comparable sales should be recent (typically within 6-12 months), similar in physical characteristics to the subject, and from the same market area. Adjustments are made for differences between comparables and the subject property.
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