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The comparison method of valuation is widely used because it provides a straightforward and intuitive approach by benchmarking a property against similar properties in the market. It relies on real market data, making it easier for stakeholders to understand and trust the valuation. Additionally, this method is particularly effective in active markets where there are ample comparable sales, allowing for quick adjustments based on differences in features and conditions. Overall, its simplicity and reliance on observable transactions make it a preferred choice among appraisers and investors.

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1w ago

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