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| ADJUSTMENTS (IN APPRAISAL) |
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Related Terminology: TAX-EXEMPT PROPERTY
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| 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. |
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| 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. |
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