18 Methods of Valuation · 18.1 Methods of valuation
18.1.3 Comparison (sales) method and genuine sale instances
The comparison method values a property from recent, genuine sales of similar properties nearby, each adjusted for differences in time, location, size, shape and other features — it is the most direct method wherever the market is active and sale data are reliable.
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- Standard level
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Key terms
- comparison method
- sales comparison
- market approach
- sale instance
- exemplar
- genuine sale
- bona fide
- willing buyer willing seller
- arm's length
- distress sale
- unit of comparison
- elements of comparison
- time adjustment
- location adjustment
- development cut
- RFCTLARR section 26
- average of highest half of sale deeds
What this note covers
- Core factsFoundation
- ExplainedStandard
- DeeperAdvanced
- Mains writingMains writing
- Common trapsFoundation
- Quick revisionFoundation
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