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Price |
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Price (or sales price) is the actual number of dollars that was paid for a product.
•Price is history, it has happened
•Price is not necessarily the same as value but it is often close
If the appraiser can determine that the price paid meets the conditions of market value, then price will approximate value.
Price is the major factor in the sales comparison approach to value.
Related Topics:
Page url: http://www.georgiaappraiser.com/glossary/index.html?price.htm
