Property Valuation
When comparing two comparable sales in a Tennessee appraisal, which adjustment would increase the indicated value of the subject property?
AThe comparable has a larger lot than the subject
BThe comparable sold for less than the list price
CThe comparable has inferior amenities compared to the subject✓ Correct
DThe comparable is in a better location than the subject
Explanation
If the comparable is inferior to the subject in amenities, the appraiser adds value to the comparable sale price. This adjustment increases the indicated value for the subject property.
Related Tennessee Property Valuation Questions
- The income approach to value is most appropriate for:
- Depreciation in appraisal refers to:
- Which type of depreciation in the cost approach is considered 'incurable'?
- Reproduction cost in the cost approach means:
- In Tennessee, the 'cost-to-cure' method of calculating depreciation assumes that:
- The highest and best use of a property is defined as the use that is:
- When a comparable sale was distressed (sold in foreclosure at below-market price), an appraiser should:
- Liquidation value is typically:
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