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REAL 4000 uga Test 3 Exam with 100% Correct Answers Updated 2024/2025 $9.99   Add to cart

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REAL 4000 uga Test 3 Exam with 100% Correct Answers Updated 2024/2025

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REAL 4000 uga Test 3 Exam with 100% Correct Answers Updated 2024/2025 Real estate appraisals - Formal estimates of the value of a piece of land. Most are generated by lenders. Also generated by courts and buyers/sellers. Market value - The most probable selling price of a property under norm...

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  • August 21, 2024
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REAL 4000 uga Test 3 Exam with 100%

Correct Answers Updated 2024/2025


Real estate appraisals ✔✔- Formal estimates of the value of a piece of

land.

Most are generated by lenders.

Also generated by courts and buyers/sellers.

Market value ✔✔- The most probable selling price of a property under

normal market conditions.

Investment value ✔✔- The value of the property to a particular investor.

Market value and investment value are both...? ✔✔- Concepts. Meaning

we never know what they truly are

Transaction prices ✔✔- The amount actually payed for a piece of property

in a completed transaction.

Market analysis ✔✔- Goal is to understand local supply and demand and

their impact on future prices.

Highest and best use ✔✔- the highest and best use of a property is found

to be:

, Legally permissible

Physically possible

Financially feasible

maximally productive (the use that adds the most value)



It also ignores existing improvements and takes into account the cost of

converting the land to a new use.

Three valuation methods ✔✔- The sales comparison approach

The cost approach

and the income approach



you take the weighted average of the indicated values that come from all

three approaches to get a single estimate of the properties value.

Sales comparison approach ✔✔- Underlying concept is that the value of a

piece of real estate can be determined by analyzing the sale price of similar

properties.

Elements of comparison ✔✔- The key determinants of value

Location

age

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