Property Valuation
In Tennessee, an appraiser who adjusts the sale price of a comparable property upward is indicating that the comparable is:
ASuperior to the subject property in that feature
BInferior to the subject property in that feature✓ Correct
CEqual to the subject property in that feature
DNot relevant to the valuation
Explanation
When an appraiser adjusts a comparable upward, it means the comparable is inferior in that feature compared to the subject. The subject property has a superior feature, so value is added to the comparable to make it equivalent.
Related Tennessee Property Valuation Questions
- The Tennessee Appraiser Certification and Licensure Board (TACLB) is the state agency that:
- When an appraiser makes a time adjustment to a comparable sale, they are adjusting for:
- In the sales comparison approach, 'gross adjustments' should generally not exceed what percentage of the comparable's sale price per FNMA guidelines?
- The market value of a property assumes:
- Absorption rate in real estate market analysis measures:
- In the income capitalization approach, a lower capitalization rate results in a:
- The gross rent multiplier (GRM) approach is best suited for:
- In the income approach, effective gross income (EGI) is calculated as:
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