Which of the following is NOT a quantitative adjustment used by an appraiser in the sales comparison approach?

In the context of the sales comparison approach, quantitative adjustments involve measurable changes in value based on comparable sales. These adjustments are made to account for differences between the subject property and the comparables in a way that can be expressed in numerical terms.

When looking at the choices provided, "financing terms," "condition of sale," and "condition of improvements" are all quantitative adjustments.

• Financing terms refer to the specifics of how a sale was funded, such as whether the buyer received favorable loan conditions, which can affect the property’s value. This is quantifiable as it can be reflected in the sale price adjusted for similar terms in comparables.

• Condition of sale captures the circumstances under which a sale occurred. For example, a property sold under duress may be valued differently than one sold in a normal market situation, and this difference can be quantified into the appraisal.

• Condition of improvements pertains to the physical state of the property and its enhancements. If a comparable property has better or worse upkeep or has features that add or detract from its appeal, these aspects can be quantified in dollar amounts.

In contrast, leasehold interest does not fit the same criteria for quantitative adjustments in the sales comparison approach. Leasehold interest refers to the rights granted