Mckissock

Basic Appraisal Procedures Chapter 12 - Comprehensive Review Quiz Questions and Answers A property has a cost new of $350,000. It has an effective age of 20 years and a total expected economic life of 65 years. There are curable items totaling $45,000. If they are cured, it will reduce the effective age to 15 years. What is the value of the improvements on a modified age-life basis, before including the site value? $234,545 $350,000 - $45,000 = $305,000. 15 ÷ 65 = .231 or 23.1%. $305,000 X...

Real Estate Principles II Questions with correct Answers Loss of value due to lack of modernization is called: Functional obsolescence The __________ is considered the most reliable approach to value because it is based on verifiable market events. sales comparison approach A loss in a property's value due to daily wear and tear is an example of physical deterioration Official property value for tax purposes is called Assessed value A real property appraisal wil...

Basic Appraisal Principles Final Exam Questions and Answers Graded A+ In a particular market, there is a demand for 500 houses per year, and there are currently 1,500 houses for sale. What does this most likely indicate? there is a three-year supply of homes currently for sale "A business arrangement in which two or more persons jointly own a business and share in its profits and losses" is the definition of partnertransferable development rightsship Property Owner A has the r...

Module 21 Basic Appraisal Principles Questions and Answers Latest Updated effective date the date to which an appraiser's analyses, opinions, and conclusions apply; also referred to as date of value. relevant characteristics features that may affect a property's value or marketability such as legal, economic, or physical characteristics physical characteristics attributes of a property that are observable or measurable as a matter of fact, as distinguished from opinions and c...

Basic Appraisal Procedures McKissock Questions and Answers 100% Solved Valuation Process Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value Appraisal Process 1. Define Problem 2. Determine scope of work 3. Gather Record & verify dat 4. determine highest and best use 5. estimate land value 6. est. value by all three approaches 7. Reconcile est. value into final opinion value 8. report the final opinion defi...

McKissock - Basic Appraisal Procedures - GA Ch.11

McKissock-Residential Property Inspection for Appraisers Questions and Answers Latest Updated Some appraisers do not want to add a detailed "Scope of Inspection" section to their appraisal reports because: It requires custom commentary, which takes time In an appraisal report, it is a good idea for an appraiser to provide an expanded explanation of the scope of their inspection because: The appraiser may be able to limit his/her liability by stating the limits of the inspection ...

McKissock - Basic Appraisal Principles- GA Ch.11 Questions and Answers Graded A+ The principal operators in the secondary mortgage market include pension funds, insurance companies, corporate investors Fannie Mae, Freddie Mac, Ginnie Mae Fannie Mae, Sallie Mae, Ginnie Mae FHA, VA, USDA Fannie Mae, Freddie Mac, Ginnie Mae True or False? Fannie Mae and Freddie Mac are now defunct. false 0:03 / 0:15 Fannie Mae purchases ______ loans on the secondary market. conventional ...

McKissock - Basic Appraisal Principles- GA Ch.5 Questions and Answers Fully Solved "An identified parcel or tract of land, including improvements, if any" is the definition of trade fixture real estate real property personal property real estate Property Owner A has the right to develop his property into 10 lots. He sells this right to nearby Property Owner B who wishes to develop his property into additional lots. This is an example of transferable development rights air ri...

Appraisal Procedures - McKissock Quiz Questions