Discuss the “Comparison” or “Comparable” type of approach to value property and what type of property?

Discuss the “Comparison” or “Comparable” type of approach to value property and what type of property?

Expert Solution

Comparable method to value real estate is the most preferred method to valuation of real estate.It depends upon recent sales of similar real estate properties as the one which is being appraised. The property which is being compared should also fall in the same locality and current use.

This approach is one of the three method used in valuing real estate properties. This approach uses sales data of similar properties to determine the market value of the property and it uses at least three recently sold and similar properties which should be used by the appraiser, when determining the current value of the property.

The property can be used for certain appraisal adjustment factors like compatible qualities, ownership interest, market conditions and location. So it is a flexible approach to value property with other properties which fall in same locality and currently used.

jeff jeffy answered 2 years ago

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