Which of the following is the most appropriate valuation method for determining the value of a residential property for sale purposes?
Correct Answer
A) Comparison approach using recent sales of similar properties
The comparison approach is the most reliable method for residential properties as it reflects actual market transactions of similar properties in similar locations. This method provides the best indication of what buyers are willing to pay in the current market.
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Which of the following is the most appropriate valuation method for determining the market value of a recently constructed office building that generates rental income?
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