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REE 4103 Unit 5 Quiz Questions with 100% correct answers | verified | latest update 2024
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REE 4103 Unit 5 Quiz Questions with 100% correct answers | verified | latest update 2024
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REE 4103 Unit 5 QuizAn open market transaction would not be one:
Listed for at least 30 days
Listed on a multiple listing service
Advertised in local newspapers
Sold to a relative - ANS-Sold to a relative
Comparable sales that require no adjustment to the subject are usually sales:
Within two years
Of properties equal in square footage
In the same neighborhood
In new developments with nearly identical properties - ANS-In new developments with
nearly identical properties
Current listings that have been exposed to the market for a reasonable time
Tell the appraiser what the subject's market value cannot exceed
Tell the appraiser what the subject's market value is
Tell the appraiser what the subject's value in use is
Tell the appraiser what the subject's investment value is - ANS-Tell the appraiser what
the subject's market value cannot exceed
For a property to be considered as a comparable:
It must have sold within five years
It must be a competitive property
It must be an open market transaction
It must be the same size. - ANS-It must be a competitive property
It must be an open market transaction
If the site represents 40% of the total value in a particular neighborhood, how much land
value would be allocated from a $200,000 sale of a single family home?
A. $120,000.00
B. $8,000.00
C. $80,000.00
D. $200,000.00 - ANS-$80,000.00
In the subject property's neighborhood, improved properties are selling for prices in a
range of $140,000 to $160,000. Research reveals a typical land value-to-total property
value ratio of 20%. What is the range of value for a similar site in this neighborhood?
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