dollar value or percentage amounts that, when added to or subtracted from the sales price of a comparable worth, provide an indication of the value of a subject property. Adjustments are necessary to compensate for variation in the features of the comparable relative to the subject.
dollar value or percentage amounts that, when added to or subtracted from the sales price of a comparable, provide an indication of the value of a subject property. Adjustments are necessary to compensate for variation in the features of the comparable relative to the subject.
Example: An appraisal is to be made of a four-bedroom house. One comparable is similar in all salient characteristics, including total size, except that it has 3 bedrooms. This comparable sold for $100,000. The appraiser makes an adjustment of $1,000 to the comparable to account for the difference of bedrooms. The adjusted sales price of the comparable is $101,000.
