Real estate appraisal - Study guides, Class notes & Summaries

McKissock Basic Appraisal Principles I Final Exam Quiz 100% Solved The _____ has oversight authority over state appraisal boards. ASC (Appraisal Subcommittee) Which of the below is a requirement of a valid real estate contract? consideration, in writing and signed, and lawful objective "The interaction of buyers and sellers who trade long-term or intermediate-term money instruments" is the definition of the _____________ market. capital An analysis of the market conditions of supply, demand...

FIRREA—Financial Institutions Reform, Recovery, and Enforcement Act of 1989 - correct answer -Required banks to get appraisals on most properties. -Required that certified appraisers be used to perform appraisals -Required that states follow Appraisal Foundation requirements in order to certify appraisers. Real Estate - correct answer a particular piece of land and anything that is permanently attached to it. Real Estate appraisal - correct answer an opinion of value for a piece of...

WRA EXAM QUESTIONS WITH CERTIFIED SOLUTIONS The WB-11 Residential Offer to Purchase describes which of the following as the way an earnest money payment should be handled as a result of a sale involving cooperating firms? The selling licensee should have all earnest money checks paid directly to the listing firm... Explanation: The Earnest Money section of the offer states: "Unless otherwise agreed, earnest money shall be paid to and held in the trust account of the listing broker." An appra...

Which of the following is usually defined as the most probable price a property would bring in normal market conditions? correct answers Market value The Appraisal Foundation includes which of the following independent boards? correct answers The Appraisal Standards Board Appraisals are usually required whenever property is: correct answers bought or sold. In 2010, the government's solution to the disintegration of the housing market and financial crisis was to enact the: correct answe...

McKissock Liberty University -Real estate appraisal principles and procedures with verified solutions REAL ESTATE Is the physical land and improvements Real property Is "the interest, benefits, and rights inherent to the ownership of real estate". These include the land, anything permanently attached or affixed to the land, anything incidental or appurtenant to the land, and anything immovable by law. Bundle of rights Bundle of rights include the rights to use, enjoy, excl...

REAL ESTATE APPRAISAL EXAM 1 2024 WITH 100% CORRECT ANSWERS Which of the following is not a test of a fixture? - correct answer The cost of the object The bundle of rights include all except - correct answer The right to exclude yourself from property taxes When title to property reverts to the state because the owner left no will or heirs, this is known as the governments right of - correct answer Escheat Condemnation of private property for public use is called the right of: - co...

RECA Fundamentals Exam Questions and Answers Already Passed Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) Which of the following will occur to the supply of a good when ther...

Mario's investment in a home in an older neighborhood is paying off now that the old post office next door has been converted to a recreational open space. correct answers Change Jane owns an empty warehouse. She's contemplating whether she stands to profit more by keeping the industrial property or converting it to residential condominiums. correct answers Highest and Best Use "Last year, we could have sold for $20,000 more, but there just aren't enough buyers in the current market,"...

Real Estate Appraisal Questions and Answers Graded A+ FIRREA—Financial Institutions Reform, Recovery, and Enforcement Act of 1989 -Required banks to get appraisals on most properties. -Required that certified appraisers be used to perform appraisals -Required that states follow Appraisal Foundation requirements in order to certify appraisers. Real Estate a particular piece of land and anything that is permanently attached to it. Real Estate appraisal an opinion of value for a piece of land...

The right of the sovereign government to take private property for public use upon the payment of just compensation is CORRECT ANSWER Eminent domain A person owning less than an entire bundle of rights in real estate is said to have CORRECT ANSWER Partial interest Real estate appraisers perform analyses and render opinions or conclusions relating to the nature, quality, value, or utility of specified interests in, or aspects of, identified CORRECT ANSWER real estate According to law, fi...