A comparable property sold six moths ago for $150,000. The adjustments for the various elements of comparison have been calculated as follows:
Location: -5 percent
- Market conditions: +8 percent
- Physical characteristics: +$12,500
- Financing terms: -$2,600
- Conditions of sale: 0
- Legal characteristics: 0
- Use: 0
- Nonrealty items: -$3,000
(Note that the term "Legal characteristics" should be replaced with the term "property rights conveyed")