Chapter 4: Evaluating & Pricing Property
PART 1: Rank the six homes described below as potential comparables for the subject property. (The best comp will be ranked number one). Constructing a comparison chart will help evaluate the information given, but are not required to turn it in.
• Discuss your answers (rankings) and explain your decision-making process.
• What criteria did you use for ranking certain properties higher or lower, and why?
PART 2: The listing agent successfully negotiated a sales price of $450,000 for the subject property described in PART 1. Unfortunately, the lender’s appraiser has estimated the property’s value to be only $435,000.
• Identify and explain the various options available to the agent.
