Sales Comparison Approach Related Topics 
Concept Appraisals
OCTOBER 6, 2023
The fair market value is generally determined based on comparable sales of similar properties, income the property generates, and the cost of replacing the property minus depreciation. These are commonly referred to as the Sales Comparison Approach, Income Approach, and Cost Approach respectively.
Drishti LLC Appraisers
APRIL 16, 2021
On the other hand, Market Value takes into account the more specific circumstances of a sale, and is used for the intention of liquidation. Similar to Fair Market Value, Market Value uses a sales comparison approach of recent, actualized sales to determine the value.
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International Society of Appraisers
MARCH 14, 2025
This is because we use different approaches for determining fair market value and replacement value. When determining fair market value, we use the sales comparison approach to analyze comparable sales data (i.e., Generally, replacement value exceeds fair market value. sold prices). current asking prices).
Prime Appraisals
NOVEMBER 15, 2023
Market Analysis: Appraisers analyze the local real estate market, considering factors like supply and demand, market trends, and recent property sales. This analysis helps them arrive at an accurate valuation. Report Generation: Once all data is collected and analyzed, appraisal professionals generate a detailed appraisal report.
Concept Appraisals
MAY 31, 2023
Approaches to Value : The appraiser uses one or more established methodologies to arrive at a property’s value. The cost approach estimates the cost to reproduce or replace the improvements, minus all forms of depreciation, plus the value of the land.
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