Property Valuation
When an appraiser makes a time adjustment to a comparable sale, they are adjusting for:
AThe time it took to close the comparable transaction
BMarket changes between the comparable's sale date and the appraisal's effective date✓ Correct
CThe age of the comparable building
DThe time since the comparable was last renovated
Explanation
Time adjustments (market conditions adjustments) account for market appreciation or depreciation between the date the comparable sold and the effective date of the appraisal. In appreciating markets, comparables that sold months ago are adjusted upward.
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