Photographs of comparables in a report serve primarily to:
Correct Answer
B) Let the reader verify the described similarity
Why this is correct: The primary purpose of including photographs of comparable sales is to support the narrative and grid analysis. The original explanation correctly states that a grid asserts similarity, and the photos allow an intended user (like a lender or reviewer) to visually verify that the comparables are reasonably similar to the subject property. This visual confirmation is a key part of the report's credibility and transparency. Why the other choices are wrong: The option "Increase the report's page count for the fee" is unethical and not a valid professional purpose. The option "Satisfy a requirement of every appraisal standard" is incorrect because while photos are often required, they are not mandated by every single standard in all circumstances; their primary role is substantive, not merely to check a compliance box. The option "Document the appraiser's travel to each property" is wrong; travel documentation is not the purpose, and a photo does not prove the appraiser visited the site. Exam tip: Remember, supporting data (like photos) in an appraisal report must substantiate the analysis and conclusions for the intended user, not just fill space or meet a presumed universal rule.
Why This Is the Correct Answer
Why this is correct: The primary purpose of including photographs of comparable sales is to support the narrative and grid analysis. The original explanation correctly states that a grid asserts similarity, and the photos allow an intended user (like a lender or reviewer) to visually verify that the comparables are reasonably similar to the subject property. This visual confirmation is a key part of the report's credibility and transparency. Why the other choices are wrong: The option "Increase the report's page count for the fee" is unethical and not a valid professional purpose. The option "Satisfy a requirement of every appraisal standard" is incorrect because while photos are often required, they are not mandated by every single standard in all circumstances; their primary role is substantive, not merely to check a compliance box. The option "Document the appraiser's travel to each property" is wrong; travel documentation is not the purpose, and a photo does not prove the appraiser visited the site. Exam tip: Remember, supporting data (like photos) in an appraisal report must substantiate the analysis and conclusions for the intended user, not just fill space or meet a presumed universal rule.
More Sales Comparison Questions
Excess land differs from surplus land in that excess land:
A paired sales analysis reveals that homes with stainless-steel appliances sell for $2,100 more than identical homes with standard appliances — but only when the homes are priced below $350,000. In the subject’s neighborhood, median sale price is $410,000. What is the appraiser’s obligation regarding the $2,100 appliance adjustment?
GLA differs by 210 sq ft between subject and comparable. Paired sales support $65 per sq ft of living area. The line adjustment is:
Paired sales are drawn from transactions six months apart in a stable market. The time adjustment needed is:
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A comparable superior to the subject in every adjusted category should produce an indication that is:
Three sales support $520,000; the borrower's purchase contract is $505,000. May the appraisal conclude above the contract price?
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Why is a foreclosure sale generally a poor comparable in a stable market?
A comparable sold 8 months ago for $250,000 in a market appreciating 6% per year. What is the time-adjusted price?
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Two otherwise identical sales differ only in that one has a fireplace and sold for $6,500 more. What has the appraiser found?
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In a commercial-residential mixed-use neighborhood, an appraiser adjusts a comparable for corner location using a $16,000 dollar adjustment derived from detached single-family sales. The subject is a duplex on a corner lot. The appraiser notes in the report: 'Corner premium is assumed consistent across housing types due to shared street exposure.' Under USPAP, what is the primary deficiency in this reasoning?
