Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

market-comparison approach

Read a random definition: in lieu of

A quick definition of market-comparison approach:

The market-comparison approach is a way to figure 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 comparative-sales approach or market-data approach.

A more thorough explanation:

The market-comparison approach is a method used to appraise real property. It involves surveying the market and comparing the property to similar pieces of property that have been recently sold. Appropriate adjustments are made for differences between the properties, including location, size of the property, and the dates of sale.

For example, if a house is being appraised using the market-comparison approach, the appraiser will look at other houses in the same area that have recently sold. They will compare the size, location, and features of those houses to the house being appraised. If the house being appraised has a larger yard or more bedrooms than the other houses, adjustments will be made to the sale price of the other houses to reflect those differences. This will give the appraiser an idea of what the house being appraised is worth.

The market-comparison approach is one of three methods used to appraise real property. The other two methods are the cost approach and the income approach.

market average | market correction

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
LSD+ is ad-free, with DMs, discounts, case briefs & more.