What aspect of the subject property does an appraiser adjust sales for?

An appraiser adjusts sales for various characteristics of the subject property to ensure that the valuation process considers relevant factors that could affect market value. Size is a critical aspect, as larger properties often have different market dynamics compared to smaller ones. Age is also important, since older properties might require renovation or may not have modern amenities, impacting their value compared to newer constructions. Other physical characteristics, such as materials used in construction, quality of finishes, and any unique features such as swimming pools or landscaping, also play a significant role in determining how the subject property compares to recently sold properties in the market.

This approach to appraising involves making necessary adjustments to allow for a more accurate comparison with comparable properties, which is essential for establishing a fair market value. By focusing on these specific physical characteristics, the appraiser can make informed adjustments that reflect the intrinsic qualities of the subject property relative to the sales data of similar properties in the area.