Humber/Ontario Real Estate Course 2 Exam Practice

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If adjusting a comparable property under the direct comparison approach, how should a $30,000 garage be accounted for if the subject property lacks one?

  1. Add $28,000 to the value of the comparable

  2. Deduct $28,000 from the value of the comparable

  3. Deduct $30,000 from the value of the comparable

  4. Deduct $30,000 from the subject property's value

The correct answer is: Deduct $30,000 from the value of the comparable

When adjusting for a feature that the comparable property has but is missing in the subject property, the correct approach is to deduct the value of that feature from the comparable property to make the properties more comparable. In this case, if the comparable property has a $30,000 garage, and the subject property lacks one, the adjustment should be to deduct $30,000 from the value of the comparable property. This adjustment accounts for the difference in value due to the presence or absence of a specific feature, ensuring a fair comparison between the properties. The other options, such as adding to the value of the comparable property or deducting from the subject property's value, would not be the correct way to adjust for this scenario.

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