an applied social science.
a college major.
based on intuition.
Appraisals of federally related transactions above the threshold
level of $250,000 are done
I. by certified or licensed real estate appraisers
II. by real estate brokers and salespersons without appraisal
license or certificaiton
both I and II
neither I nor II
The appraisal process
always consists of the three approaches to value.
always requires at least three comparable sales in each appraisal.
is the process a client uses to hire an appraiser.
approaches the valuation systematically
The highest price paid in terms of money, with a willing buyer and
neither under compulsion to buy or sell, and both knowledgeable as
to the uses
to which the property may be put is referred to as what kind of
value in exchange
none of the above.
The market value of a parcel of real estate is
I. a prediction of its sales price
II. an estimate of its most probable sales price