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[Show more]Basic Appraisal Procedures COMILED EXAM PACKAGE DEAL GRADED A+
[Show more]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 
pro...
Preview 3 out of 16 pages
Add to cartValuation 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 
pro...
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. ...
Preview 2 out of 15 pages
Add to cartValuation 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. ...
A single unit residence sold for $126,000. It was rented for $1,100 per month but the market rent was 
$1,200. What is the GRM indicated by this sale? - 105.0 
A building was constructed in July 2000 for $754,200. The cost index at that time was 133.6. The current 
cost index is 201.8. What is the i...
Preview 1 out of 4 pages
Add to cartA single unit residence sold for $126,000. It was rented for $1,100 per month but the market rent was 
$1,200. What is the GRM indicated by this sale? - 105.0 
A building was constructed in July 2000 for $754,200. The cost index at that time was 133.6. The current 
cost index is 201.8. What is the i...
grant deed - deed containing, or having implied by law, some but not all of the usual covenants of 
title 
Appraiser - One who is expected to perform valuation services competently and in a manner that 
is independent, impartial, and objective. 
report - any communication, written or oral, of an app...
Preview 3 out of 17 pages
Add to cartgrant deed - deed containing, or having implied by law, some but not all of the usual covenants of 
title 
Appraiser - One who is expected to perform valuation services competently and in a manner that 
is independent, impartial, and objective. 
report - any communication, written or oral, of an app...
ASC (Appraisal Subcommittee) - The _____ has oversight authority over state appraisal boards. 
consideration, in writing and signed, and lawful objective - Which of the below is a requirement 
of a valid real estate contract? 
capital - "The interaction of buyers and sellers who trade long-term or ...
Preview 2 out of 9 pages
Add to cartASC (Appraisal Subcommittee) - The _____ has oversight authority over state appraisal boards. 
consideration, in writing and signed, and lawful objective - Which of the below is a requirement 
of a valid real estate contract? 
capital - "The interaction of buyers and sellers who trade long-term or ...
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...
Preview 3 out of 20 pages
Add to cartAssumption - 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...
An appraiser paid a referral fee in conjunction with an assignment. Which statement is TRUE regarding 
this situation, according to USPAP? - The appraiser must disclose that a fee was paid, but does 
not have to disclose the amount paid. 
An appraiser finds out after completing an appraisal that the...
Preview 4 out of 50 pages
Add to cartAn appraiser paid a referral fee in conjunction with an assignment. Which statement is TRUE regarding 
this situation, according to USPAP? - The appraiser must disclose that a fee was paid, but does 
not have to disclose the amount paid. 
An appraiser finds out after completing an appraisal that the...
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