Champions Principles of Real Estate 2 Questions and Answers (100% Pass)
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Course
Champions Real Estate
Institution
Champions Real Estate
appraisal
value of a property maybe affected by social, economic, govt and
environmental influences
Loan-to-Value Ratio (LTV)
The percentage of value or sales price that a lender is willing to
finance.
limited appraisal report
exterior only/drive by inspection. deemed as low risk loan
...
✓ the most probable price a property should bring in a competitive and
open market under fair conditions requisit to a fair sale.
appraisal process
✓ The value of a property may be affected by social, economic,
governmental and environmental influences. An appraiser must always
be aware of these influences and possible changes in them that could
affect market value.
Three approaches to value
✓ (1) The Sales Comparison Approach
✓ (2) The Cost Approach,
✓ (3) The Income Approach.
Sales Comparison Approach
✓ A value for existing properties method for comparing similar properties
to the subject property. this is the best indicator.
Market Data Approach
✓ aka: sales comparison approach
Master01 |Excellent Study Material| Latest update
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