What is the 'direct comparison' method of property valuation?
Correct Answer
A) Analysing recent sales of comparable properties and adjusting for differences from the subject.
The direct comparison method estimates a property's value by analysing recent sales of comparable properties in the area and making adjustments for differences in features, condition, location, and timing of sale.
Why This Is the Correct Answer
The direct comparison method analyses recent sales of comparable properties and adjusts each for differences from the subject, such as size, condition, location and timing, to indicate the subject's value.
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