Property Valuation
A Rhode Island appraiser makes a 'negative' adjustment to a comparable sale. This means:
AThe comparable is inferior to the subject in that feature, so value is added to the comparable
BThe comparable is superior to the subject in that feature, so value is subtracted from the comparable✓ Correct
CThe market has declined since the comparable sold
DThe comparable had environmental contamination
Explanation
In the sales comparison approach, if a comparable property is superior to the subject in a particular feature, the appraiser makes a negative adjustment (subtracts value) to the comparable's sale price to account for the difference.
Related Rhode Island Property Valuation Questions
- The principle of substitution in appraisal states that:
- A comparable property sold 8 months ago. The market has appreciated 1% per month since that sale. The comparable's adjusted price for market conditions (time adjustment) should be:
- In Rhode Island, what is the 'subject property' in an appraisal?
- A Rhode Island property appraiser notes 'external obsolescence' affecting a property near a proposed highway. This refers to:
- A property listed for $375,000 receives an appraisal of $355,000. The most likely outcome is:
- The 'plottage' value increase occurs when:
- A Rhode Island assessor values property for property tax purposes. Assessed value in Rhode Island is typically:
- Reproduction cost in the cost approach refers to:
Practice More Rhode Island Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Rhode Island Quiz →