At the conclusion of the traditional sales comparison approach to valuation, the appraiser evaluates and reconciles the final adjusted sale prices into a single value for the subject property. This single value is commonly referred to as:
A) indicated value
B) investment value
C) transaction value
D) replacement value

Question

Quizplus · Accepted Answer

The indicated value is the final single value that results from the sales comparison approach after the appraiser has made all necessary adjustments to the comparable properties' sale prices. It is an estimate of the subject property's market value based on the analysis of similar properties sold in the market. The indicated value is one of the three primary approaches to determining the value of a property, alongside the cost approach and the income approach.

At the Conclusion of the Traditional Sales Comparison Approach to Valuation