Basic Appraisal Procedures Sales Comparison Approach Adjustment Procedures Chapter 8 Exam Questions and Answers
Sequence of Adjustments - Answers The order in which quantitative adjustments are applied to the sales price of comparable properties.
Example of acceptable sequence - Answers Property...
Sequence of Adjustments - Answers The order in which quantitative adjustments are applied to the sales
price of comparable properties.
Example of acceptable sequence - Answers Property rights conveyed
Financing terms w/cash equivalency
Conditions of sale
Expenditures made immediately after purchase
Market conditions
Location
Physical characteristics
Economic characteristics
Use/zoning
Non realty components of value
Standards 1 - 7 - Answers Applies to all properties
Standards 8 - 10 - Answers Applies to income producing properties
FHA & VA, Fannie Mae, Freddie Mac - Answers USAR Form
Mortgage lending - Answers USAR Form
Uniform Appraisal Dataset (UAD) - Answers Created in 2011 by Fannie Mae & Freddie Mac. A set of
reporting protocols that apply to the USAR Form and three additional standardized appraisal report data
Downward - Answers When adjusting a comp for financing terms in an FHA appraisal, FHA instructs the
appraiser to adjust ___________.
No - Answers Are dollar for dollar adjustments based on strict cash equivalency appropriate for sales
concessions according to the Fannie Mae Selling Guide?
Comp adjustments that reflect the difference between what the comp sold for with the sales
concessions and what it would have sold for without the concessions - Answers According to the Fannie
Mae Selling Guide, how should an appraiser made adjustments for sales concessions?
Guaranteed mortgage - Answers A VA mortgage is an example of a ______________.
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