Gold Coast Chapter 1(Q&A, All correct)

Gold Coast Chapter 1(Q&A, All correct) Absentee Owner Owners who buy income property as investments and depend on professionals to manage them. (page 4) Appraisal An act of assessing an opinion of value on real property. (page 5) Appraiser A practitioner who has the knowledge and expertise necessary to estimate the value of an asset. (page 5) Broker Price Opinion (BPO) Helps determine the selling price of the property in a short sale transaction since the licensee typically has knowledge of the local market. The licensee will be asked to take photos of the property and complete a BPO report form provided by the lender. The report includes a neighborhood analysis of comparable properties along with local and regional market information. BPOs are less thorough than an appraisal, but require more analysis than a basic CMA. (page 3) Business Opportunity The listing and sale of businesses by a real estate broker (page 4) Comparative Market Analysis (CMA)