California Real Estate Practice Exam

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Study for the California Real Estate Exam with confidence. Engage with interactive questions designed to enhance your understanding of real estate principles, laws, and practices. Prepare thoroughly for your licensing test and ensure you have the knowledge to succeed in your real estate career!

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If a comparable property sold for $235,000 with one less bathroom than the subject property, and the value of a bathroom is estimated to be $15,000, what is the indicated value of the subject property?

$220,000
$235,000
$250,000
$265,000

The correct answer is: $250,000

In this scenario, we are given information about a comparable property that sold for $235,000 with one less bathroom than the subject property. We know that the value of a bathroom is estimated to be $15,000. To find the indicated value of the subject property, we need to adjust the value of the comparable property based on the difference in bathrooms. Since the comparable property sold for $235,000 with one less bathroom, the value of that bathroom would be $15,000. To calculate the indicated value of the subject property, we need to add the value of the missing bathroom to the price of the comparable property. Therefore, $235,000 + $15,000 = $250,000. This is why the correct answer is C: $250,000.