Sales comparison approach definition

Sales comparison approach means the procedure that values property by comparing the subject property to similar properties located in relatively close proximity, having similar size and utility, and having been recently sold in arm’s-length transactions (com- parable sales). The sales comparison approach requires the evaluator to es- timate the degree of similarity and dif- ference between the subject property and comparable sales. Such comparison shall be made on the basis of condi- tions of sale, financing terms, market conditions, location, physical charac- teristics, and income characteristics. Appropriate adjustments shall be made to the sales price of the comparable property based on the identified defi- ciencies or superiorities of the subject property to arrive at a probable price for which the subject property could be sold on the date of the collateral eval- uation.
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Sales comparison approach. This valuation approach is based upon the principle of substitution. When a facility is replaceable in the market, the market approach assumes that value tends to be set at the price of acquiring an equally desirable substitute facility. Since healthcare market conditions change and frequently are subject to regulatory and financing environments, adjustments need to be considered. These adjustments also consider the operating differences such as services and demographics.
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Sales comparison approach means the collection, verification, and screening of sales data, stratification of sales information for purposes of comparison and use of such information to establish the fair cash value of taxable property;
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Examples of Sales comparison approach in a sentence

  • Sales comparison approach, using data for generally comparable property.

  • Sales comparison approach consider value of comparable properties in close proximity adjusted for differences in key attributes such as property size and quality of interior fittings.

  • Single Family Housing Appraisals require one, two, or three approaches to value, as described below, depending on the specific assignment.• Sales comparison approach.

  • The description of valuation techniques and inputs used in determining the fair value of investment properties classified as Level 3 in the fair value hierarchy is as follows: Valuation techniquesSignificant unobservable inputsRange Sales comparison approach is a comparative approach to value that considers the sales of similar or substitute properties and related market data and establishes a value estimate by processes involving comparison.

  • The fair values of the investment properties were arrived at using the Sales comparison approach for land and Cost Approach for buildings and land improvements.

  • Sales comparison approach consider value of comparable properties in close proximity adjusted for differences in key attributes such as property size and quality of interior fittings.Sensitivity on the fair value of investment properties based on each methodology is as follows:For the sales comparison method, if the prices of the comparable properties were to increase / decrease by 1%, the fair value would increase / decrease by AED 1,843 thousand (31 December 2020: AED 580 thousand).

  • Sales comparison approach is based on a comparison of active market prices for similar properties and recent arm’s length market transactions, adjusted for difference in the nature, location or condition of the specific property.

  • Sales comparison approach model description All sales were verified with a knowledgeable party and inspected, when possible.

  • Sales comparison approach In appraisal practice, an approach to value is included or omitted based on its applicability to the property type being valued and the quality and quantity of information available.

  • Adjustments to comparable sales based on both the quantitative and qualitative data.Depreciable property – Cost approach based on market comparable data to replace adjusted for local variations, inflation and other factors.Manufactured homes – Sales comparison approach based on market prices for similar homes adjusted for differences in age or size.


More Definitions of Sales comparison approach

Sales comparison approach means an approach to valuing real estate that requires an appraiser to analyze such comparable sales data as are available to indicate a value conclusion.
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Sales comparison approach means the collection,
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Sales comparison approach. This valuation approach is based upon the principle of substitution. When a facility is replaceable in the market, the market approach assumes that value tends to be set at the price of acquiring an equally desirable substitute facility. Since healthcare market conditions change and frequently are subject to regulatory and financing environments, adjustments need to be considered. These adjustments also consider the operating differences such as services and demographics. Cost Approach: This valuation approach estimates the value of the tangible assets only. Value is represented by the market value of the land plus the depreciated reproduction cost of all improvements and equipment. In general, the Income and Sales Comparison Approaches are considered the best representation of value because they cover both tangibles and intangible assets, consider the operating characteristics of the business and have the most significant influence on attracting potential investors. The appraised values submitted by the three appraisers shall be ranked from highest value to middle value to lowest value, the appraised value (highest or lowest) which is furthest from the middle appraised value shall be discarded, and the remaining two appraised values shall be averaged to arrive at the Fair Market Value.
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Sales comparison approach means a determination of the value of a mortgaged real property based upon a comparison of that property to similar properties that have been sold recently or for which listing prices or offering figures are known. In connection with that determination, data for generally comparable properties are used and comparisons are made to demonstrate a probable price at which the subject mortgaged real property would sell if offered on the market.
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Related to Sales comparison approach

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