Uspap opinion of value - Study guides, Class notes & Summaries

An appraisal can be completed by which of the following? A home inspector A real estate broker A licensed appraiser using USPAP standards A mortgage loan originator - ANSWERA licensed appraiser using USPAP standards What is a BPO? Broker Price Opinion Best Practice Organization Best Prospective Offer Beyond Present Opportunities - ANSWERBroker Price Opinion Which of the following is incorrect? Farming methods include Direct Mail and Just Listed Post Cards. Farming only invo...

BOB HOGUE SALES ASSOCIATE EXAM REVIEW | 500+ ACTUAL QUESTIONS AND ANSWERS VERIFIED BY EXPERT | UPDATED the product that real estate licensees market is information knowledge of property transfer, knowledge of market conditions, knowledge of how to market real estate or business a competent licensed real estate professional must know the economic and legal intricacies associated with transfers of - title, property taxes, financing, and local zoning ordinances to be successful, licens...

8 Steps in the Valuation Process (Ans- 1) Define the problem 2) Determine scope of work 3) Gather, record and verify the data 4) Determine the highest and best use 5) Estimate the land value 6) Estimate value by each of the 3 approaches (if applicable) 7) Reconcile the estimated values into the final opinion of value 8) Report the final opinion of value Defining the Problem: 6 Sub-steps within (Ans- -Identification and location of the real estate -Identification of the propert...

What did review appraiser Larry Anderson mean when he said that a review appraiser needed to have a split personality? correct answers The review appraiser has to be both a technician and a diplomat What is the primary function of the appraisal reviewer? correct answers Form an opinion regarding the adequacy and appropriateness of the appraisal report The scope of work of an appraisal review assignment can involve: correct answers Checking the mathematical accuracy Determining regulatory ...

Mckissock USPAP Exam Questions With 100% Correct Answers 2024 /2025 {GRADED A } Financial chaos began in the US during the - CORRECT ANSWER 1929 stock market crash after the great depression In the 1950s-70s double continued with - CORRECT ANSWER -Works related areas -Property taxation -Federal housing programs 1990s trouble was because of... - CORRECT ANSWER Mortgage scams and illegal house flipping. When an appraiser uses a hypothetical condition in an appraisal, USPAP requires...

professional appraisal practice - -imperfect information -reliable data & analysis applies -an appraisal is only as good as the appraiser & data available -OPINION of value -UNBIASED opinion of a 3rd PARTY with no direct interest in the property -Uniform Standards of Professional Appraisal Practice (USPAP) -Code of Ethics sales comparison (market) approach - -value of RE can be determined by analyzing the sale prices of similar properties -in a competitive market, close substitutes shou...

the product that real estate licensees market is - information knowledge of property transfer, knowledge of market conditions, knowledge of how to market real estate or business a competent licensed real estate professional must know the economic and legal intricacies associated with transfers of - title, property taxes, financing, and local zoning ordinances to be successful, licenses must know how to - market real estate and businesses real estate brokerage - the business of bringing tog...

McKissock Liberty University -Sales Comparison Approach McKissock Class with correct answers What is created in the mind of an individual or market participant? - correct answer Value What is the motivation of an individual, group of persons, or business entity involving the purchase of an item? - correct answer Desire As the term applies to appraisal, transferability refers to the number of goods and services that can be purchased with a unit of currency. (T/F) - correct answer True W...

Appraisal - "(noun) The act or process of developing an opinion of value. an opinion of value; (adjective) of or pertaining to appraising and related functions such as appraisal practice or appraisal services."1 Report - any communication, written or oral, of an appraisal or appraisal review that is transmitted to the client or a party authorized by the client upon completion of an assignment. 2 Client - "The party or parties who engage, by employment or contract, an appraiser in a speci...

Basic Appraisal Procedures Mckissock (2023/2024) Already Passed Valuation Process Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value Appraisal Process 1. Define Problem 2. Determine scope of work 3. Gather Record & verify dat 4. determine highest and best use 5. estimate land value 6. est. value by all three approaches 7. Reconcile est. value into final opinion value 8. report the final opinion defining problem Identification a...