In New York real estate appraisal, what does the sales comparison approach primarily rely on for cooperative apartments?
Correct Answer
A) Recent sales of similar co-op shares and proprietary leases
The sales comparison approach for cooperatives in New York relies on recent sales of similar co-op shares and proprietary leases. Since co-ops are personal property transactions involving corporate shares rather than real property deeds, comparable sales must be of similar co-op ownership interests.
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- → The income approach to appraisal is most commonly used for which type of property?
- → Which formula correctly calculates the capitalization rate?
- → External obsolescence in Oklahoma:
- → The sales comparison approach to appraisal is most appropriate for which type of property?
- → Which of the following correctly lists the three types of depreciation recognized in real estate appraisal?
- → The sales comparison approach to appraisal is most commonly used for which type of property?
- → Which four tests must a use satisfy to qualify as the highest and best use of a property?
- → Three depreciation:
- → Cap rate:
- → Which formula best represents the cost approach to appraisal?
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