A comparable sold for $300,000 and carries adjustments of +$12,000, -$5,000, +$3,000 and -$2,000. What is the net adjustment as a percentage of the sale price?
Correct Answer
A) 2.7%
Why this is correct: Calculation: net adjustment $8,000 ÷ $300,000 = 2.7%. Why the other choices are wrong: 7.3% is the gross adjustment percentage, which is the figure underwriting guidelines usually cap and is not what was asked; 0.27% misplaces the decimal by a factor of ten; 2.6% follows from neither total.
Why This Is the Correct Answer
Why this is correct: Calculation: net adjustment $8,000 ÷ $300,000 = 2.7%. Why the other choices are wrong: 7.3% is the gross adjustment percentage, which is the figure underwriting guidelines usually cap and is not what was asked; 0.27% misplaces the decimal by a factor of ten; 2.6% follows from neither total.
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Two comparables carry identical houses on different lots. One sits on 8,000 square feet and sold for $310,000; the other sits on 10,000 square feet and sold for $322,000. What rate per square foot of land does the pair indicate?
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