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[Show more]The most common heating systems in residential construction today are 
 
-hot water 
-heat pumps 
-forced warm air 
-electric radiant - ️️hot water 
 
A _______________ home has a permanent steel chassis, wheels and axles. 
 
-panelized 
-modular 
-pre-cut 
-manufactured - ️️manufactured 
 
...
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Add to cartThe most common heating systems in residential construction today are 
 
-hot water 
-heat pumps 
-forced warm air 
-electric radiant - ️️hot water 
 
A _______________ home has a permanent steel chassis, wheels and axles. 
 
-panelized 
-modular 
-pre-cut 
-manufactured - ️️manufactured 
 
...
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; Ident...
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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; Ident...
"The age of property that is based on the amount of observed deterioration and obsolescence it has sustained" is the definition of ____________ age. - ️️effective 
 
In what type of heating system would you find an expansion tank? - ️️hot water 
 
Which of the following would be general da...
Preview 2 out of 13 pages
Add to cart"The age of property that is based on the amount of observed deterioration and obsolescence it has sustained" is the definition of ____________ age. - ️️effective 
 
In what type of heating system would you find an expansion tank? - ️️hot water 
 
Which of the following would be general da...
"The estimated cost to construct, at current prices as of the effective appraisal date, an exact duplicate or replica of the building being appraised, using the same materials..." is the definition of _______________ cost. - ️️reproduction 
 
Footings need to be _______________ below average f...
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Add to cart"The estimated cost to construct, at current prices as of the effective appraisal date, an exact duplicate or replica of the building being appraised, using the same materials..." is the definition of _______________ cost. - ️️reproduction 
 
Footings need to be _______________ below average f...
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 la...
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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 la...
8 Steps in the Valuation Process - ️️1) Define the problem 
2) Determine scope of work 
3) Gather, record and verify the data 
4) Determine the highest and best use 
5) Estimate the land value 
6) Estimate value by each of the 3 approaches (if applicable) 
7) Reconcile the estimated values into ...
Preview 4 out of 42 pages
Add to cart8 Steps in the Valuation Process - ️️1) Define the problem 
2) Determine scope of work 
3) Gather, record and verify the data 
4) Determine the highest and best use 
5) Estimate the land value 
6) Estimate value by each of the 3 approaches (if applicable) 
7) Reconcile the estimated values into ...
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 o...
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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 o...
When developing an appraisal, you calculate the following GRMs for comparable properties: 94.3, 90.1, 95.6, 109.2, 84.5, 100.7, 99.9. What is the mean of the GRMs? - ️️96.3 
 
"The process of valuing a universe of properties as of a given date using standard methodology, employing common data, ...
Preview 3 out of 17 pages
Add to cartWhen developing an appraisal, you calculate the following GRMs for comparable properties: 94.3, 90.1, 95.6, 109.2, 84.5, 100.7, 99.9. What is the mean of the GRMs? - ️️96.3 
 
"The process of valuing a universe of properties as of a given date using standard methodology, employing common data, ...
When developing an appraisal, you calculate the following GRMs for comparable properties: 94.3, 90.1, 95.6, 109.2, 84.5, 100.7, 99.9. What is the mean of the GRMs? - ️️96.3 
 
"The process of valuing a universe of properties as of a given date using standard methodology, employing common data, ...
Preview 3 out of 17 pages
Add to cartWhen developing an appraisal, you calculate the following GRMs for comparable properties: 94.3, 90.1, 95.6, 109.2, 84.5, 100.7, 99.9. What is the mean of the GRMs? - ️️96.3 
 
"The process of valuing a universe of properties as of a given date using standard methodology, employing common data, ...
- ️️An entrepreneur is taking on a development project, and by his calculations, he expects to receive a 25% return on his investment in the project. This 25% figure represents 
 
$252,000 - ️️The subject is a 15 year old duplex that would cost $240,000 to build new today. It is in good cond...
Preview 2 out of 11 pages
Add to cart- ️️An entrepreneur is taking on a development project, and by his calculations, he expects to receive a 25% return on his investment in the project. This 25% figure represents 
 
$252,000 - ️️The subject is a 15 year old duplex that would cost $240,000 to build new today. It is in good cond...
If a cost manual is used, the result is _____________ cost. - ️️replacement 
 
What type of framing became popular in the 1800s with the advent of the steam-powered sawmill? 
 
platform frame 
balloon frame 
log frame 
post and beam - ️️balloon frame 
 
Details about the property being appra...
Preview 2 out of 9 pages
Add to cartIf a cost manual is used, the result is _____________ cost. - ️️replacement 
 
What type of framing became popular in the 1800s with the advent of the steam-powered sawmill? 
 
platform frame 
balloon frame 
log frame 
post and beam - ️️balloon frame 
 
Details about the property being appra...
Site - ️️Land that is improved so that it is ready to be used for a specific purpose 
 
Separate Site Valuations - ️️Cost approach 
Assessments and taxation 
Condemnation appraisals 
Certain income capitalization methods 
Highest and best use analysis 
 
Cost Approach (summation approach) - ...
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Add to cartSite - ️️Land that is improved so that it is ready to be used for a specific purpose 
 
Separate Site Valuations - ️️Cost approach 
Assessments and taxation 
Condemnation appraisals 
Certain income capitalization methods 
Highest and best use analysis 
 
Cost Approach (summation approach) - ...
"The age of property that is based on the amount of observed deterioration and obsolescence it has sustained" is the definition of ____________ age. - ️️effective 
 
In what type of heating system would you find an expansion tank? - ️️hot water 
 
Which of the following would be general da...
Preview 2 out of 13 pages
Add to cart"The age of property that is based on the amount of observed deterioration and obsolescence it has sustained" is the definition of ____________ age. - ️️effective 
 
In what type of heating system would you find an expansion tank? - ️️hot water 
 
Which of the following would be general da...
True or False: The effective date of the valuation must be the date on which the appraiser inspected the subject property. - ️️FALSE 
 
In many cases, the effective date is the date the appraiser inspects the subject property. But that is not always the case. The effective date can be any date, ...
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Add to cartTrue or False: The effective date of the valuation must be the date on which the appraiser inspected the subject property. - ️️FALSE 
 
In many cases, the effective date is the date the appraiser inspects the subject property. But that is not always the case. The effective date can be any date, ...
Client - ️️The individual, group or entity who engages a valuer to perform a Service 
 
Extraordinary Assumption - ️️An assumption, directly related to a specific assignment, as of the effective date of the assignment results, which, if found to be false, could alter the appraiser's opinion...
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Add to cartClient - ️️The individual, group or entity who engages a valuer to perform a Service 
 
Extraordinary Assumption - ️️An assumption, directly related to a specific assignment, as of the effective date of the assignment results, which, if found to be false, could alter the appraiser's opinion...
ch1 What is the first step in the valuation process? 
 
determine scope of work 
define the problem 
estimate land value 
gather, record, and verify data - ️️define the problem 
 
ch1 True or False: There is one universal definition of market value used in real property appraisal. 
True 
False -...
Preview 4 out of 62 pages
Add to cartch1 What is the first step in the valuation process? 
 
determine scope of work 
define the problem 
estimate land value 
gather, record, and verify data - ️️define the problem 
 
ch1 True or False: There is one universal definition of market value used in real property appraisal. 
True 
False -...
The amount by which contract rent exceeds the market rent at the time of the appraisal - ️️Excess rent 
 
Fanny Mae requires a single unit residential appraisal report to include photographs of - ️️The subject property and the comparable sales 
 
The factory built house constructed in compli...
Preview 2 out of 8 pages
Add to cartThe amount by which contract rent exceeds the market rent at the time of the appraisal - ️️Excess rent 
 
Fanny Mae requires a single unit residential appraisal report to include photographs of - ️️The subject property and the comparable sales 
 
The factory built house constructed in compli...
The appraiser - ️️Who is responsible for identifying the intended use of an appraisal? 
 
Valuation process - ️️A step-by-step procedure that can be applied to any type of appraisal assignment. 
 
No - ️️Does an appraiser's client always have to directly engage him? 
 
False - ️️The...
Preview 4 out of 40 pages
Add to cartThe appraiser - ️️Who is responsible for identifying the intended use of an appraisal? 
 
Valuation process - ️️A step-by-step procedure that can be applied to any type of appraisal assignment. 
 
No - ️️Does an appraiser's client always have to directly engage him? 
 
False - ️️The...
The appraiser - ️️Who is responsible for identifying the intended use of an appraisal? 
 
Report the final opinion of value - ️️What is the final step in the valuation process? 
 
False - ️️There is one universal definition of market value used in real property appraisal. 
 
extraordinar...
Preview 3 out of 30 pages
Add to cartThe appraiser - ️️Who is responsible for identifying the intended use of an appraisal? 
 
Report the final opinion of value - ️️What is the final step in the valuation process? 
 
False - ️️There is one universal definition of market value used in real property appraisal. 
 
extraordinar...
First four steps of the valuation process: - ️️1) Identification of the Problem 
2) Scope of work Determination 
3) Data Collection and Property Description 
4) Data Analysis 
 
Second four steps of the valuation process: - ️️5) Land Value Opinion 
6) Application of the Approaches to Valu...
Preview 3 out of 26 pages
Add to cartFirst four steps of the valuation process: - ️️1) Identification of the Problem 
2) Scope of work Determination 
3) Data Collection and Property Description 
4) Data Analysis 
 
Second four steps of the valuation process: - ️️5) Land Value Opinion 
6) Application of the Approaches to Valu...
Maximumly productive - ️️In highest and best use of analysis, which criterion is applied last? 
 
Workfile - ️️Documentation necessary to support an appraiser's analysis, opinions, and conclusion is the appraisers: 
 
Scope of work - ️️What appraisal term is defined as the type and exte...
Preview 3 out of 19 pages
Add to cartMaximumly productive - ️️In highest and best use of analysis, which criterion is applied last? 
 
Workfile - ️️Documentation necessary to support an appraiser's analysis, opinions, and conclusion is the appraisers: 
 
Scope of work - ️️What appraisal term is defined as the type and exte...
The first step in the valuation process is - ️️define the problem 
 
Appraisers are cautioned to identify the exact _______________ of market value, and its _______________, applicable in each appraisal completed for the purpose of market value. - ️️definition, authority 
 
"Real property f...
Preview 2 out of 6 pages
Add to cartThe first step in the valuation process is - ️️define the problem 
 
Appraisers are cautioned to identify the exact _______________ of market value, and its _______________, applicable in each appraisal completed for the purpose of market value. - ️️definition, authority 
 
"Real property f...
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