The subject property being evaluated is compared to comparable properties that sold during a suitable time leading up to or just using the sales comparison grid (model).
The market value of a property is calculated using sales information from comparable properties in real estate valuation. When calculating the current value of a property, the appraiser should include at least three recently sold and comparable properties.
A "sales comparison grid" is a common feature of appraisal reports. Usually, this grid is set up such that the modifications are made in the proper sequence. Adjustments related to transactions are made initially. Transactional adjustments are caused by variations in ownership, financing circumstances, and sale terms.
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