Appraisals express value as the monetary relationship between properties and those who buy, sell or use those properties, as defined by the Uniform Standards of Professional Practice(USPAP). Fundamental to appraisal practice is the idea of comparing the subject of an assignment to other properties. The Sales Comparison Approach is the foundation of appraisal analysis: appraisers apply its techniques not only in that approach but also in the Cost Approach and Income Approach. Competent appraisers recognize the components by which buyers and sellers judge properties and then measure those components relative to a subject property.
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