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Simple English definitions for legal terms

comparative-sales approach

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A quick definition of comparative-sales approach:

The comparative-sales approach is a way of figuring out how much a piece of real estate is worth. It involves looking at other similar properties that have recently sold and making adjustments for any differences between them, like location or size. This helps determine a fair price for the property being appraised. It's also called the market approach or market-comparison approach.

A more thorough explanation:

The comparative-sales approach is a method used to appraise real property by comparing it to similar properties that have recently been sold in the market. This approach is also known as the market approach or market-comparison approach.

When using the comparative-sales approach, an appraiser will look at properties that are similar to the one being appraised in terms of location, size, and other relevant factors. The appraiser will then make adjustments for any differences between the properties, such as the dates of sale or any unique features that may affect the value.

For example, if a three-bedroom house in a particular neighborhood recently sold for $300,000, an appraiser might use that sale as a basis for appraising a similar three-bedroom house in the same neighborhood. If the house being appraised has a larger yard or a more updated kitchen, the appraiser might adjust the value accordingly.

The comparative-sales approach is one of three common methods used to appraise real property, along with the cost approach and income approach. It is often used for residential properties, but can also be used for commercial properties.

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1a2b3c4d26z
11:15
In this analogy is the LSAT the NFL combine
JumpySubsequentDolphin
11:16
I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah
no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
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