Property Valuation
What is 'price per square foot' analysis in Rhode Island residential appraisal?
AA method that always determines final appraised value
BA simplified comparison of property values by dividing sale price by gross living area; used as a quick check, but not the sole basis for a value conclusion✓ Correct
CThe only method used for condominiums
DA method required by USPAP
Explanation
Price per square foot is a simplified metric used to compare properties. Appraisers use it as a check on their analysis, but it is not sufficient alone for a formal value conclusion, as many other factors (location, condition, features) also affect value.
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