easy · National Real Estate Exam valuation
Avery Adams, a sales associate, encounters this situation: A buyer can purchase a comparable substitute for less than the asking price of the subject property.
Which conclusion is most accurate?
- The cheaper substitute puts downward pressure on the subject's value.
- The subject must be worth more because it was listed first.
- The comparable is irrelevant unless it is physically identical.
- The asking price establishes market value regardless of alternatives.
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