Property Valuation
In South Carolina, which approach to value is most commonly used to appraise a single-family owner-occupied home?
AIncome approach
BCost approach
CSales comparison approach✓ Correct
DGross rent multiplier approach
Explanation
The sales comparison approach (market approach) is the primary method for single-family residential appraisals, comparing the subject property to recent sales of similar properties with appropriate adjustments.
Related South Carolina Property Valuation Questions
- Under South Carolina law, a homeowner may appeal their property tax assessment to which body?
- In the South Carolina sales comparison approach, what does a 'paired sales analysis' determine?
- What does 'market rent' mean in the context of a South Carolina property appraisal?
- A South Carolina appraiser adjusts a comparable sale for a feature that the comparable has but the subject does not. The adjustment to the comparable is:
- What is 'plottage' in South Carolina real estate valuation?
- A South Carolina commercial property generates $120,000 in annual NOI. Using a cap rate of 8%, what is the indicated value using the income approach?
- A Charleston, SC property with ocean views commands a premium over inland comparable properties. This premium reflects which appraisal adjustment?
- The 'income approach' to value is best suited for which type of South Carolina property?
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →