Mckissock

Valuation process CORRECT ANSWERS: A systematic procedure used in the valuation of real property. Client CORRECT ANSWERS: The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem CORRECT ANSWERS: Identification and location of the real estate; Identification of the property rights; Definition of value; Purpose and intended use of the appraisal; Effective date of the opinion of value; Any special limiting conditions ...

"A document or a clause in a document in which the borrower accepts responsibility for the repayment of a debt" is the definition of: A) CC&R B) bond C) mortgage note D) debt CORRECT ANSWERS: mortgage note "The earth's surface, both land and water, and anything that is attached to it whether by the course of nature or human hands" is the definition of: A) land B) site C) water D) real property CORRECT ANSWERS: A The public restriction on property rights that allows the government to...

grant deed CORRECT ANSWERS: deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser CORRECT ANSWERS: One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report CORRECT ANSWERS: any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client or a party authorized by the client upon completion of an assignment. narrative report...