External obsolescence - Study guides, Class notes & Summaries

Which would NOT be used in the capitalization approach? A. gross income B. operating expenses C. reproduction cost D. allowance for vacancy - ACCURATE ANSWERS C. reproduction cost A property had a land value of $40,000, a 2,000 square feet structure with a rebuilding cost of $70 per square foot, depreciation of $5,000 due to functional obsolescence and $1,500 due to physical depreciation. What would be the estimate of value for this property using the cost approach? A. $133,500 B. $...

The approach used as the best indicator of value for existing properties. a. functional obsolescence b. sales comparison c. highest and best use d. market value e. external obsolescence - B Refers to the loss in desirability of the style, layout, or function of an element of a property over time. a. functional obsolescence b. sales comparison c. highest and best use d. market value e. external obsolescence - A The price a willing seller will sell for, and the price a willing buyer ...

11.31 pollution control exemption - person is entitled to exemption from taxation in whole or part for a facility or device that is used for the control of air, land or water pollution Ineligible for this exemption: property used to manufacture the devices, property used for residential or recreational purpose Must file permit application/exemption with the TCEQ (Texas Commission on Environmental Quality). Deadline is January 31 23.23(a) sets a limit on the appraised value of a residence h...

Functional obsolescence - ANSWER Refers to the loss in desirability of the style, layout or function of an element of a property over time Sales comparison - ANSWER best indicator of value for existing properties highest and best use - ANSWER the legal use for property that gives the greatest return in money and/or amenities external obsolescence - ANSWER the loss in value of a property caused by factors outside the property itself principle of contribution - ANSWER suggests the...

Which would NOT be used in the capitalization approach? A. gross income B. operating expenses C. reproduction cost D. allowance for vacancy - C. reproduction cost A property had a land value of $40,000, a 2,000 square feet structure with a rebuilding cost of $70 per square foot, depreciation of $5,000 due to functional obsolescence and $1,500 due to physical depreciation. What would be the estimate of value for this property using the cost approach? A. $133,500 B. $140,000 C. $173,500 ...

Principles of Real Estate 2 Champion Questions and Correct Solutions 2024 An opinion of value - Answer -The appraised value of a property is: assessed value - Answer -the amount that your local government determines your property to be worth for tax purposes subject property - Answer -The property that is being appraised. ad valorem - Answer -according to value Principle of Conformity - Answer -Maximum value is found when there is a reasonable degree of similarity or homogeneity USPAP (...

gross lease ~ tenant pays a fixed rent, and the landlord pays all taxes, insurance, repairs, utilities, and maintenance connected with the property constructive eviction ~ Actions of a landlord that so materially disturb or impair a tenant's enjoyment of the leased premises that the tenant is effectively forced to move out and terminate the lease without liability for any further rent physical deterioration ~ reduction in a property's value resulting from a decline in physical co...

Which statement provides the basic justification for zoning? A. There must be regulations in place to prevent pollution B. The government does not want to encourage land development C. The inappropriate use of one's property may affect the value of another D. Professional planners want to control development - Answer- C. The inappropriate use of one's property may affect the value of another What is the rationale behind government planning of real estate development? A. To manage futu...

If an older building cannot be air-conditioned, it is an example of ___________ ? A. Economic obsolescence. B. Functional obsolescence. C. Physical deterioration. D. External deterioration - Answer-B. Functional obsolescence. An appraiser MUST be licensed or certified to handle Federally related work on residential property valued at more than ___________? A. $100,000. B. $250,000. C. $500,000. D. $1,000,000. - Answer-B. $250,000. The main difference between tenancy in common and join...

Champions SAE Property Management | Latest Version | 2024/2025 | Graded A+ **What are the primary duties of a property manager?** A property manager's responsibilities are outlined in the management agreement with the property owner. Generally, they must handle diverse tasks and possess comprehensive knowledge of all real estate aspects. **What ethical principles does a property manager owe to the property owner as a fiduciary?** • Obedience • Loyalty • Disclosure • Confide...