Property Valuation
A South Dakota appraisal report finds a comparable sale with seller concessions of $12,000. The sale price was $280,000. For comparison purposes, the adjusted sale price used in the appraisal is:
A$280,000
B$268,000✓ Correct
C$292,000
D$256,000
Explanation
Seller concessions inflate the nominal sale price. The appraiser adjusts downward by the concession amount: $280,000 − $12,000 = $268,000 net sale price.
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