Property Valuation
In New York, an appraiser's adjustments in the sales comparison approach account for differences between the subject property and the comparable sales. An 'upward adjustment' is made when:
AThe comparable is superior to the subject in a particular feature
BThe comparable is inferior to the subject in a particular feature (the subject has a better feature)✓ Correct
CThe subject is in a flood zone
DThe comparable sold more than 12 months ago
Explanation
In the sales comparison approach, adjustments are made to the comparable's sale price to account for differences with the subject. If the comparable is inferior to the subject in some respect (e.g., the comparable has no garage but the subject does), the comparable's price is adjusted upward. If the comparable is superior, the adjustment is downward.
Related New York Property Valuation Questions
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