Ree 4103 - Samenvattingen en Aantekeningen

What is appraisal? - The act or process of developing an opinion of value of an asset What is USPAP? - Uniform Standards of Professional Appraisal Practice What is real estate? - An identified parcel or tract of land, including imporvements, if any. The physical land and appurtenances affixed to the land What is real property? - The interests, benefits, and rights inherent in the ownership of real estate (land, buildings, fixtures) What is the total range of private owneership intere...

REE 4103 EXAM 1 Questions with complete solutions.

REE 4103 FINAL EXAM, real estate valuation Question with complete solutions

REE 4103 Exam 1 Questions with Complete Solution2

REE 4103 Exam 1 Questions with Complete Solution1.

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...

REE 4103 Exam 1 botts questions with Complete solutions.

REE 4103 TEST 1 QUESTIONS WITH REVISED AND UPDATED ANSWERS Short-lived items refer to - Answer-• Items requiring periodic replacement (carpet) • Economic life normally same as physical life Subtracting an improvement's current market value from its reproduction cost new indicates: - Answer-• Accrued depreciation The effective age of a building will probably exceed its actual age when: - Answer-• An inadequate maintenance program has been used The land on which a 10-year-old h...

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...