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Term Definition
Sales Comparison Approach
- a set of procedures in which an appraiser derives a value comparing the subject property to similar properties sold recently.
Application in Divorce
The sales comparison approach uses apples-and-apples comparisons; that is, by applying appropriate units of comparison and making adjustments to the sale prices of the
comparables
.
The sales comparison approach is a good way of arriving at a
fair market value
.
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