Property Valuation
In South Carolina, what is a 'market conditions adjustment' in an appraisal?
AAn adjustment to the appraiser's fee for changing market conditions
BAn adjustment to comparable sales prices to account for changes in market conditions between the sale date and the appraisal date✓ Correct
CAn adjustment for physical condition differences between properties
DAn adjustment for size differences between comparables and the subject
Explanation
A market conditions adjustment (formerly called 'time adjustment') accounts for changes in market conditions (appreciation or depreciation) between the date of a comparable sale and the effective date of the appraisal. This ensures comparables reflect current market conditions.
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