All of the following are generally proper principles for selecting and analyzing comparable sales EXCEPT:
Correct Answer
C) The minimum closed-sale support can be satisfied entirely with active listings if they are recent enough
Active listings can be useful support, but they do not replace the required closed-sale support in the sales comparison approach. That makes option D the exception and therefore the correct answer in this reverse question.
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More Valuation Market Analysis Questions
A buyer in Rochester is pre-approved for a conventional mortgage and wants to purchase a co-op apartment. What should the buyer's agent explain about financing a co-op purchase in New York?
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When appraising co-op apartments in New York, all of the following factors must be considered due to their unique ownership structure EXCEPT:
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Previous Question
All of the following statements about a broker’s comparative market analysis are generally accurate EXCEPT:
Next Question
Two otherwise similar sales suggest that buyers in a market pay about $80 per square foot for additional living area. The subject contains 1,800 square feet. A comparable sold for $460,000 and contains 1,950 square feet, with no other meaningful differences. What is the comparable’s adjusted sale price?