Why is it important to adjust the price of comparable properties in appraisal?

Adjusting the price of comparable properties is crucial in appraisal because it allows the appraiser to account for differences that may influence market value. When appraisers analyze comparable properties, they must consider various factors such as location, size, condition, age, and features that distinguish one property from another. Each of these elements can significantly impact the market value and must be adjusted to ensure that the appraisal reflects a realistic value for the subject property.

By making appropriate adjustments, the appraiser ensures that the comparison is meaningful, allowing for a more accurate determination of the subject property's market value. This process helps in delivering an unbiased and fair assessment that reflects current market conditions and the intrinsic qualities of the properties involved. It is a key practice in upholding the integrity and accuracy of the appraisal process.