medium · National Real Estate Exam
When performing the sales comparison approach, an appraiser notes that a comparable property sold with special seller-financing at 3 % interest when market rates were 7 %. This favorable financing likely inflated the sales price. To adjust, the appraiser should:
- Adjust the subject's value downward
- Add the value of the financing concession to the comparable
- Ignore the financing as it is personal property
- Subtract the value of the financing concession from the comparable
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