Property Valuation
What is a 'comparable sale' (comp) in Rhode Island real estate appraisal?
AAny sale within the last 5 years in Rhode Island
BA recently sold property similar in characteristics to the subject property, used as a reference point in the sales comparison approach✓ Correct
CA sale by the same seller in the same neighborhood
DAny sale that the appraiser has personally inspected
Explanation
A comparable sale is a recently sold property with similar characteristics (location, size, age, condition, features) to the subject property. Appraisers analyze and adjust comps to develop a value opinion for the subject.
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