Ree 4103 exam questions - Study guides, Class notes & Summaries

Private ownership of real property rights is subject to certain restrictions, known as the four powers of government. Which of the following is NOT one of the four powers of government that restrict real property rights? - Deed Restrictions Items that have been installed or attached to the land or building in a permanent manner are considered which of the following? - Real Property Which of the following is able to perform a formal appraisal of real estate? - Only licensed appraisers Wh...

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? - $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? - $28,000 to $32,000 Land can be valued by Sales comp...

An appraiser may be liable for all of the following except: - Negligence - Misrepresentation - Fraud - Low value - Low value For appraisal purposes, market value may be defined as: - The highest offer - The amount of the loan commitment - The most probable selling price - The asking price - - The most probable selling price Appraisal is - The act or process of telling the client the market value of the real estate - The act of process of developing an opinion of value - The repo...

Those assets that are not tangible real property, tangible personal property, or financial assets. Something that is not materal, not corporeal, or not substantially real are _________. Finite assets Personal property Real property Intangible assets - intangible assets Movable items of property that are not permanently affixed to, or part of, the real estate are considered to be __________. Intangible assets Finite assets Personal property Real property - personal property An e...

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? - $28,000 to $32,000 Land can be valued by - Sales comparison, land residual, allocation, and extraction You are asked to appraise a vacant building lot. The neighborhood is about 75% built up. Most lots in the area are from 55 to...

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? - $80,000 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? - • $28,000 to $32,000 Land can be valued by - Sales comp...

REE 4103 EXAM QUESTIONS.

The concepts of land are - Legal, geographic and environmental, economic, and social. For appraisal purposes, market value may be defined as - The most probable selling price Appraisal is - The act or process of developing an opinion of value. What is Chattel? - Personal property is generally considered property that is movable,[1] as opposed to real property or real estate. What is a fixture? - any physical property that is permanently attached (fixed) to real property (usually land...

Sales comparison approach - An opinion of market value is developed by comparing properties similar to the subject property that have recently been sold, are listed for sale or are under contract What is a major premise of the sales comparison approach? - An opinion of the market value of a property can be supported by studying the market's reaction to comparable and competitive properties Comparative analysis of properties and transactions - _____ focuses on similarities and differences ...

Private ownership of real property rights is subject to certain restrictions, known as the four powers of government. Which of the following is NOT one of the four powers of government that restrict real property rights? Correct Answer-Deed Restrictions Items that have been installed or attached to the land or building in a permanent manner are considered which of the following? Correct Answer-Real Property Which of the following is able to perform a formal appraisal of real estate? Correc...