All about Appraisers and finding properties value
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| An estimate or opinion of the value of a piece of property as of a certain date is... | show 🗑
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| show | Appraiser (Independent Contractor, or hired by government, lender, or trust company; Must haves= Appraisal license, 2,000 hrs apprentice wrk, then state certified & licensed; Fees based on time & wrk; Common designation= Member of Appraisal Institute/MAI
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| show | Reconciliation (The final result of an appraisal report)
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| Real estate market the demand for homes is greater than the supply is a... | show 🗑
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| Real estate market where the supply of homes is in excess compared to the demand is a... | show 🗑
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| show | Subject Property (under market approach for appraisers)
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| A recently sold property being used as a means of comparison is called the... | show 🗑
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| The construction cost at current prices of an exact duplicate of the subject property is... | show 🗑
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| show | Replacement Cost (Like when a church just has what is necessary instead of stained glass windows, etc.)
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| show | Physical Deterioration (Like an old house that is falling apart)
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| Loss of value inside property lines from functional problems like age or design is... | show 🗑
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| Loss of value off the subject property is... | show 🗑
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| To convert future income to present value means to... | show 🗑
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| show | Plottage (Example would be when a hospital wants to expand and ends up buying the houses across the street and using that land, and then makes a profit)
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| Combining two or more adjacent lots to increase value is... | show 🗑
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Created by:
Rapunzel86
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