Based on the regular adjustements and the comparable property, the adjusted sale price for the single-family dwelling is 380.000
In an appraisal report, it is important to consider the adjustements such as the reduction per year and the living area price per square foot, and this values should be compared with a similar property to determine the best sale price.
1. Analyze the comparable property sale price:
Sale price: $400,000 Built 10 years ago Area: 3400 square foot
$150 per square foot x 3400 = $510,000
$2000 (deduction per year) x 10 = $20,000
$510,000 - $20,000 = $490,000
The estimated price is $490,000, however, the real price was $400,000, this means there is a deduction of $90,000. Based on this, now calculate the sale price of the new property.
2. Calculate sale price of the subject:
Built 5 years ago Area: 3200 square foot
$150 per square foot x 3200 = $480,000
$2000 (deduction per year) x 5 = $10,000
$480,000 - $10,000 = $470,000
$470,000 - $90,000 (deduction applied to the comparable property) = $380,000
Therefore, the sale price for this propery is $380.000
Complete question
This question is incomplete because the list of adjustments is not included, here is the missing section:
Attribute Adjustment
Effective age $2,000 reduction per year
Living area $150 per square foot
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