Property Valuation
Market conditions adjustments in a sales comparison appraisal account for:
ADifferences in property location
BChanges in the real estate market between the date of a comparable sale and the effective date of appraisal✓ Correct
CPhysical differences between the subject and comparable
DDifferences in financing terms on comparable sales
Explanation
Market conditions (time) adjustments account for changes in property values between when a comparable sold and the effective date of the appraisal. In an appreciating market, older comparable sales must be adjusted upward to reflect current conditions.
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