Episode #35: Appraiser Secrets – The Sales Comparison Approach
The Sales Comparison Approach compares recently-sold local similar properties to the subject property. Price adjustments are made for differences in the comparable and subject property.
The sales comparison approach is the foundation for the real estate professional’s CMA, Comparative Market Analysis. It is a process used to determine the current market value of a property based on recent sales of comparable properties in the area.
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