The sales comparison approach to value is most widely used for which of the following types of properties?
A) Residential property
B) Income producing property
C) Buildings serving specialized purposes
D) For transactions involving government agencies

Question

Quizplus · Accepted Answer

The sales comparison approach to value is most commonly used for residential property because it involves comparing the subject property to similar properties that have recently sold in the same area. Income producing property and buildings serving specialized purposes may have different methods of valuation, such as the income approach or cost approach. The approach used for transactions involving government agencies would depend on the specific situation and property type.

The Sales Comparison Approach to Value Is Most Widely Used