The first step in an appraisal is.
Define the problem
market value is defined by all EXEPT:
The consideration of the price for which the property was last sold
The decision to convert a two-family residential home ito a commercial office, housing a real estate firm, and an insurance company is an example of what appraisal principle?
Highest and best use
Which BEST describes the principle that a home maintains its highest value by benign in a neighborhood with similar type housing?
Conformity
Which principle is the market data approach based on?
Substitution
External obsolescence in a property in generally;
A type of depreciation that is incurable
When an appraiser uses the phrase "effective age" he is referring to:
The age of property based on its condition
A man owns a building with 6 apartments. Three of the 6 apartments net him $200 per month, and the other three net him $150 per month. For what amount should he sell the building to net the same profit if he invest his money in a 9% saving account.
) $140.000
The gross rent multiplier uses:
Sale price and monthly rental rates
Peeling paint on a home is an example of:
Physical deterioration
the 3 distinct boards of TAF are
- Appraisal qualification board
- Appraisal standarts board
- Appraisal practices board