10. An apartment complex sold for $3,125,000. The seller received as part of the payment from the buyer a note for $200,000 with an interest rate of 5% to be paid monthly for seven years. Market financing at banks was at 7% at the time. The buyer stated the financing from the seller added $30,000 to the price. The seller agreed that he would have accepted $30,000 less if the buyer had paid all cash. What is the cash equivalent sale price? Answer: 11. True or false. Qualitative adjustments sometimes ranks or arrays the sales. 12. True or false. Quantitative adjustments and qualitative analysis in the same appraisal are sometimes used in the same grid. 13. Which statement about units of comparison is the most accurate? a. Units of comparison are the characteristics that cause the prices paid for real property to vary. b. Units of comparison represent a breakdown of the price based on a significant variable. c. The best unit of comparison is always the same for commercial land and apartment land. d. Units of comparison are difficult to estimate 14. A 10-unit apartment building backs up to a railroad which shakes the ground and building when trains go by. The rent per month, per apartment is $25.00 less in the appraised property than similar apartment properties where a railroad is not adjacent. A capitalization rate of 8% is used in the income approach. What is the loss in value to the appraised property due to the presence of the railroad right-of-way being located immediately behind the property? Label and show your calculations below