100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
Principles Of Real Estate II (ACEABLE AGENT) - Real Estate Appraisal - Level 2 Questions And Answers With Verified Solutions Already Passed!!!$9.99
Add to cart
Principles Of Real Estate II (ACEABLE
AGENT) - Real Estate Appraisal - Level 2
Questions And Answers With Verified
Solutions Already Passed!!!
Appraisal - ANSWER✔✔ the value of a property, based on factor determined by
the opinion of a certified appraiser
General Data - ANSWER✔✔ information about the area surrounding a property;
this could include the city, region, and neighborhood in which the property is
situated
Specific Data - ANSWER✔✔ information regarding the property itself
Limited appraisal - ANSWER✔✔ a simpler, abbreviated version of a regular
appraisal
Market Value - ANSWER✔✔ the price for which a property will sell if offered
openly under normal conditions. This refers to the economic principle; it's the price
that a buy and seller would probably accept
Appraised Value - ANSWER✔✔ refers to the value given by a licensed appraiser
during the mortgage origination process.
Assessed Value - ANSWER✔✔ refers to the value placed on a property by a
governmental unit for use in levying annual real estate taxes
, Loan-to-value ratio (LTV) - ANSWER✔✔ the limit on the value of a loan, usually
a certain percentage of the home's appraised value or sales price, whichever is
lower
Subject Property - ANSWER✔✔ the property that is being evaluated in any given
appraisal
Highest and best use - ANSWER✔✔ what is achieved when the property is used
for the most appropriate purpose with the highest returns
Principle of Anticipation - ANSWER✔✔ the present value of a property is affected
by the anticipated income or utility that property will give its property owner
Priniciple of Contribution - ANSWER✔✔ A property's overall value is made up of
the combined value of each of its parts
Principle of Substitution - ANSWER✔✔ the value of something is affected by the
cost of getting a similar item elsewher
Principle of Change - ANSWER✔✔ the condition of a property, the desirability of
its location, and the market in which it exists can always change
Principle of Conformity - ANSWER✔✔ values are highest when the houses in a
neighborhood look roughly the same
Principle of Regression - ANSWER✔✔ lower-value properties surrounding a
subject property can drag down the value of the property
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller classhub. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
