easy · National Real Estate Exam valuation
During a transaction review led by Blair Bennett, the following issue arises: The assignment involves a relatively new special-purpose building with few comparable sales.
How should the licensee handle the situation?
- Use assessed value as a substitute for market value.
- Use the cost approach: land value plus improvement cost minus depreciation.
- Ignore land value because the improvements are new.
- Use only the gross rent multiplier because the building is special purpose.
Sign up free to see the explanation and track your rank →
More National Real Estate Exam valuation practice
- An appraiser is valuing a highly specialized chemical plant that has unique equipment esse
- A person wants to buy a luxury beachfront condo but has a very low credit score and no cas
- If an appraiser is valuing a small residential rental property using a Gross Rent Multipli
- If an appraiser uses 'replacement cost' to value a building, they are estimating the curre
- In appraisal terminology, how is 'Price' distinguished from 'Value'?
- The Federal regulatory definition of market value assumes th… — This is meant to exclude w
- If the building is20%depreciated and the land is worth $75,000, what is the total property
- If there is no depreciation, what is the indicated value by the cost approach?