External obsolescence - Study guides, Class notes & Summaries

The approach used as the best indicator of value for existing properties. a. functional obsolescence b. sales comparison c. highest and best use d. market value e. external obsolescence correct answer: B Refers to the loss in desirability of the style, layout, or function of an element of a property over time. a. functional obsolescence b. sales comparison c. highest and best use d. market value e. external obsolescence correct answer: A The price a willing seller will sell...

Functional obsolescence - ANSWER Refers to the loss in desirability of the style, layout or function of an element of a property over time Sales comparison - ANSWER best indicator of value for existing properties highest and best use - ANSWER the legal use for property that gives the greatest return in money and/or amenities external obsolescence - ANSWER the loss in value of a property caused by factors outside the property itself principle of contribution - ANSWER suggests the...

Principles of Real Estate 2 Exam With 100% Correct Answers 2024 What helps overcome the difficulties of objectively estimating the value of properties? - answerAppraisals The approach used as the best indicator of value for existing properties - answerSales Comparison Refers to the loss in desirability of the style, layout, or function of an element of a property over time - answerFunctional obsolescence The price a willing seller will sell for, and the price a willing buyer will pay - a...

PSI Maryland Practice Exam Questions & Answers 2023/2024 If an older building cannot be air-conditioned, it is an example of ___________ ? A. Economic obsolescence. B. Functional obsolescence. C. Physical deterioration. D. External deterioration - ANSWER-B. Functional obsolescence. An appraiser MUST be licensed or certified to handle Federally related work on residential property valued at more than ___________? A. $100,000. B. $250,000. C. $500,000. D. $1,000,000. - ANSWER-B...

Which would NOT be used in the capitalization approach? A. gross income B. operating expenses C. reproduction cost D. allowance for vacancy - C. reproduction cost A property had a land value of $40,000, a 2,000 square feet structure with a rebuilding cost of $70 per square foot, depreciation of $5,000 due to functional obsolescence and $1,500 due to physical depreciation. What would be the estimate of value for this property using the cost approach? A. $133,500 B. $140,000 C. $173,500...

PSI Salesperson Real Estate Exam (2023/ 2024 Update) 100% Correct| Questions and Verified Answers| Grade A Q: Your neighbor has given you revocable permission to go hunting on his farm. You have a(n) Answer: 3. license. Q: A claim based on adverse possession of property must NOT be Answer: 4. secretive. Q: A man gives his friend the right to go hunting on his property for just one day. This is an example of Answer: 1. a license. Q: A person who receives ...

gross lease ~ tenant pays a fixed rent, and the landlord pays all taxes, insurance, repairs, utilities, and maintenance connected with the property constructive eviction ~ Actions of a landlord that so materially disturb or impair a tenant's enjoyment of the leased premises that the tenant is effectively forced to move out and terminate the lease without liability for any further rent physical deterioration ~ reduction in a property's value resulting from a decline in physical co...

Principles of Real Estate 2 Champion Questions and Correct Solutions 2024 An opinion of value - Answer -The appraised value of a property is: assessed value - Answer -the amount that your local government determines your property to be worth for tax purposes subject property - Answer -The property that is being appraised. ad valorem - Answer -according to value Principle of Conformity - Answer -Maximum value is found when there is a reasonable degree of similarity or homogeneity USPAP (...

Principles of Real Estate 2 Exam With 100% Correct Answers 2024 What helps overcome the difficulties of objectively estimating the value of properties? - answerAppraisals The approach used as the best indicator of value for existing properties - answerSales Comparison Refers to the loss in desirability of the style, layout, or function of an element of a property over time - answerFunctional obsolescence The price a willing seller will sell for, and the price a willing buyer will pay - a...

Champions SAE Property Management | Latest Version | 2024/2025 | Graded A+ **What are the primary duties of a property manager?** A property manager's responsibilities are outlined in the management agreement with the property owner. Generally, they must handle diverse tasks and possess comprehensive knowledge of all real estate aspects. **What ethical principles does a property manager owe to the property owner as a fiduciary?** • Obedience • Loyalty • Disclosure • Confide...