In the direct comparison approach to valuation in Alberta, what adjustments are commonly made to comparable sales?
Correct Answer
B) Adjustments for differences in location, size, age, condition, features, and time of sale between the comparable property and the subject property
In the direct comparison approach, adjustments are made to comparable sales to account for differences from the subject property. Common adjustments include location, property size, lot size, age, condition, number of bedrooms/bathrooms, garage type, basement development, time of sale (market changes), and other features that affect value.
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In the cost approach to property valuation in BC, what does 'depreciation' refer to?
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