Q5. A property comparable to the single-family home you are appraising sold three months ago for $380,500. You have determined that the adjustments required for differences in the comparable and subject property are as follows: Transaction characteristics Property rights conveyed Financing terms Conditions of sale Expenditures immed. after purchase Market conditions Property characteristics Location Physical characteristics: Economics characteristics Use Non-realty components found in comparable None None None +3258 +0.6% /month, not compounded +3% -4% N.A. None -7000 What is the final adjusted sale price of the comparable? Make the adjustments in the ord suggested by Exhibit 7-6 (page 175). Show complete working in the determination of the final adjusted sale price
Q5. A property comparable to the single-family home you are appraising sold three months ago for $380,500. You have determined that the adjustments required for differences in the comparable and subject property are as follows: Transaction characteristics Property rights conveyed Financing terms Conditions of sale Expenditures immed. after purchase Market conditions Property characteristics Location Physical characteristics: Economics characteristics Use Non-realty components found in comparable None None None +3258 +0.6% /month, not compounded +3% -4% N.A. None -7000 What is the final adjusted sale price of the comparable? Make the adjustments in the ord suggested by Exhibit 7-6 (page 175). Show complete working in the determination of the final adjusted sale price
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Q5. A property comparable to the single-family home you are appraising sold three
months ago for $380,500. You have determined that the adjustments required for
differences in the comparable and subject property are as follows:
Transaction characteristics
Property rights conveyed
Financing terms
Conditions of sale
Expenditures immed. after purchase
Market conditions
Property characteristics
Location
Physical characteristics:
Economics characteristics
Use
Non-realty components found
in comparable
None
None
None
+3258
+0.6% /month, not compounded
+3%
-4%
N.A.
None
-7000
What is the final adjusted sale price of the comparable? Make the adjustments in the order
suggested by Exhibit 7-6 (page 175). Show complete working in the determination of the
final adjusted sale price
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