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Principles of Real Estate II (ACEABLE AGENT) - Real Estate Appraisal - Level 2 Exam Questions and Answers 100% SOLVED $10.19
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Principles of Real Estate II (ACEABLE AGENT) - Real Estate Appraisal - Level 2 Exam Questions and Answers 100% SOLVED

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  • Principles of Real Estate II
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  • Principles Of Real Estate II

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 regu...

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  • March 4, 2024
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  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
  • Principles of Real Estate II
  • Principles of Real Estate II
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IMORA
Principles of Real Estate II (ACEABLE
AGENT) - Real Estate Appraisal - Level 2
Exam Questions and Answers 100%
SOLVED

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

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