Sales Comparison Approach Mckissock Class Exam Questions And Answers With Accurate Solutions

When using sale price per square foot as a unit of comparison, an appraiser should: {Ans: Bracket the subject's square footage}The subject property is a retail building with ample parking. One of the comparable sales used in valuing this property suffers from a shortage of parking which affected its sale price. In the sales comparison approach, what type of adjustment should be made? {Ans: The comparable should be adjusted up to the subject}A capitalization rate demonstrates the relationship between the ________ income of a property and its sales price. {Ans: Net Operating}Barb is completing an assessment appeal appraisal on a property in a fluctuating market where there is limited data that can be used to extract a market conditions adjustment. Which sales data is she most likely to give primary consideration to when reconciling? {Ans: The most recent ones}The criteria for highest and best use include all of the following EXCEPT: {Ans: No undue stimulus}Which characteristic of value implies the presence of a need or demand? {Ans: Desire - In order to have value, an item must fulfill a need or satisfy a desire. Someone has to want to purchase the item. Wishful thinking