Uspap appraisal report - Study guides, Class notes & Summaries

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...

Different appraisal regulations among states. - CORRECT ANSWER-Which is not one of the contributing factors that led to a need for regulation in the appraisal profession? Appraisal Subcommittee (ASC) - CORRECT ANSWER-Responsible for the Federal oversight of state real estate licensing and certification TRUE - CORRECT ANSWER-(T/F) The AppraisalSubcommittee monitors the activities of TAF to determine if policies and procedures are consistent with title XI of FIRREA Appraisal Subcommittee ...

Champions School Principles of Real Estate II Latest Update Graded A+ Appraisal An Appraiser's opinion of value Principle of conformity Suggests that value is maximized when there is reasonable degree of homogeneity, or sameness, in a neighborhood USPAP Uniform Standards of Professional Appraisal Practice Uniform Standards of Professional Appraisal Practice Standards that have been established by the Appraisal Standards Board of the Appraisal Foundation Ad Valorem According to...

Different appraisal regulations among states. - CORRECR ANSWERS-Which is not one of the contributing factors that led to a need for regulation in the appraisal profession? Appraisal Subcommittee (ASC) - CORRECR ANSWERS-Responsible for the Federal oversight of state real estate licensing and certification TRUE - CORRECR ANSWERS-(T/F) The AppraisalSubcommittee monitors the activities of TAF to determine if policies and procedures are consistent with title XI of FIRREA Appraisal Subcommi...

Basic Appraisal Procedures Questions and Answers Rated A+ Assumption That which is taken to be true Effective Date The context for the appraiser's opinions and conclusions. Effective dates can be current, retrospective, or prospective Exposure Time Estimated length of time a property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal. Extraordinary Assumption An assumption, dir...

grant deed - Answer-deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser - Answer-One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report - Answer-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 - Answer-A written communicat...

McKissock - General Report Writing and Case Studies Appraisal -Answer-"(noun) The act or process of developing an opinion of value. an opinion of value; (adjective) of or pertaining to appraising and related functions such as appraisal practice or appraisal services."1 Report -Answer-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. 2 Client -Answer-"The party o...

Basic Appraisal Principles Latest Update Graded A Appraisal Review The act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal, appraisal review, or appraisal consulting assignment Appraisal The act or process of developing an opinion of value; an opinion of value of or pertaining to appraising and related functions, such as appraisal proactive or appraisal services. Appraisal Practice Services performe...

Florida Real Estate Exam Practice Questions 2024 Questions and Answers 100% Pass Which statement is true regarding the use of the term REALTOR? A. All real estate licensees are realtors B. All realtors are members of the NAR C. The term real estate licensee and realtor may be used interchangeably D. The Florida DBPR authorizes the use of the term realtor - Correct Answer ️️ -b. The term "follow-up" refers to a. returning calls in a timely manner. b. completing instructions given b...

mckissock basic appraisal principles exam questions and answers grant deed -Answer-deed containing, or having implied by law, some but not all of the usual covenants of title Appraiser -Answer-One who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective. report -Answer-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...