Property Valuation
In Virginia, the appraisal approach most commonly used for single-family residential properties is the:
ACost approach
BIncome approach
CSales comparison approach✓ Correct
DGross rent multiplier approach
Explanation
The sales comparison approach (market data approach) is the most widely used method for appraising single-family residential properties. It compares the subject property to recently sold comparable properties.
Related Virginia Property Valuation Questions
- An appraiser makes a positive adjustment to a comparable sale in Virginia when the comparable is:
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