Egi is best described as - Study guides, Class notes & Summaries

Valuation process A systematic procedure used in the valuation of real property. Client The party or parties who engage, by employment or contract, an appraiser in a specific assignment. Steps in Defining the problem 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 Real property The interests, benefits, an...

Exam Question Master 1 T/F - Real estate professionals provide knowledge of market conditions - ANS True The product that real estate licensees market is - ANS Expert Information Real estate professionals provide expert information in three areas: - ANS Property transfer, market conditions, and how to market real estate and businesses. D.B.P.R (Department of Business and Professional Regulation) main office location - ANS - Located in Tallahassee, FL. DRE (Divisio...

Assessor - Answer- The government official responsible for administrating the property tax system and for Establishing value for ad valorem tax purposes Requirements of the assessor - Answer- Discovery , listing and valuation Discovery - Answer- Location of all taxable property Listing - Answer- Creating an inventory of the quantity, quality and important characteristics of all taxable property Valuation - Answer- An estimate of the actual or market value of all taxable property P...

What are the two requirements of the property if the anti-deficiency statute is to apply? - Answer 2.5 acres or less. Utilized as a family home for a 1 or 2 family dwelling. In a deed of trust, who is the "trustor?" - Answer The person buying the house (the purchaser). Who has priority in liens even over a purchase money mortgage lien filed prior? - Answer Liens for unpaid property taxes and agricultural liens on crops. Does an IRS lien filed in 2015 have priority over a mortgage file...

CAPS Practice Test Exam Questions And Answers 2023

Quiz Questions from Basic Appraisal Procedures Which of the following is NOT an accurate statement regarding the reconciliation process? - ANS a. Reconciliation occurs throughout the valuation process. b .Reconciliation is achieved through the application of a precise mathematical formula. c. Reconciliation is a disciplined process using reason and judgment. (b) When does reconciliation take place? - ANS throughout the valuation process What is the final step of t...