Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

D. Using the Sales Comparison Approach to Value please adjust the Comps value using the following data: I suggest you re-read the CH 9

image text in transcribed

D. Using the Sales Comparison Approach to Value please adjust the Comps value using the following data: I suggest you re-read the CH 9 Lecture Notes before you start this problem. The subject property (the one you are appraising) is a medium quality, 25 year old, 3 bedroom Single Family Residence with a two car garage. The appraiser has identified a comparable property to be used in his opinion of value. It has the same square footage and room count in the same neighborhood that is a recent sale. How would the appraiser adjust the Comparable property making the following cost adjustments per the appraisers Opinion? Adjustments to be made as per appraiser's Opinion: Location Difference per appraisers opinion $10,000 (+ or -) Lot Size Difference Overall Condition Difference Comparable Property Data: $15,000 (+ or -) $ 5,000 (+ or -) Price Paid for Comparable Property Location Lot Size Nicer location than subject property Smaller than subject property Overall Condition Better than subject property What is the Adjusted Price?(Adjust the Price Paid) Enter Amount of each Adjustment below. (You must decide if you add or subtract the amount of the adjustment) (3.5 points each) $500,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan

15th edition

978-0133428858, 133428850, 133428702, 978-0133428704

Students also viewed these Accounting questions

Question

What is the difference between semantic and psychological meaning?

Answered: 1 week ago

Question

Q2 What is MIS?

Answered: 1 week ago

Question

Q6 What is your role in IS security?

Answered: 1 week ago

Question

Q3_ How does IS differ from IT?

Answered: 1 week ago