The sales comparison approach to appraisal is most commonly used for which type of property?
Correct Answer
B) Residential properties
The sales comparison approach is most commonly used for residential properties because there are typically many comparable sales available in the market. It is less reliable for unique or special-use properties where few comparables exist. While it can be applied to commercial properties when sufficient data is available, it is the primary method used for valuing homes and other residential real estate.
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