Question

The approach that allows for up and down adjustments to different properties to arrive at a value for a subject property is called the ________?

1) Incremental approach
2) Iterative approach
3) Adaptive approach
4) Comparative approach

Answer 1

The comparative approach is the approach that allows for up and down adjustments to different properties to arrive at a value for a subject property. It involves comparing the subject property to similar properties that have been sold or rented recently, making adjustments based on their differences.

Step-by-step explanation:

The approach that allows for up and down adjustments to different properties to arrive at a value for a subject property is called the Comparative approach. The comparative approach involves comparing the subject property to similar properties that have been sold or rented recently. By looking at the prices or rental rates of these similar properties, adjustments can be made based on the differences in factors such as size, location, amenities, and condition to arrive at an estimated value for the subject property.