When conducting a CMA, which of the following adjustments would typically be made to comparable sales?
Correct Answer
A) Adjustments for differences in sale date, location, size and condition
A comprehensive CMA requires adjustments for multiple factors including time (sale date), location differences, property size variations, and condition differences to make the comparable sales more similar to the subject property. These adjustments help provide a more accurate estimate of the subject property's current market value.
Why This Is the Correct Answer
Each comparable is adjusted for the ways it differs from the subject, most commonly sale date, location, size and condition. Those adjustments turn raw sale prices into evidence of what the subject is worth.
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When conducting a CMA for a unique heritage-listed property with limited comparable sales, what is the most appropriate valuation strategy?
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