Property Valuation
An appraisal that understates value is called:
AOver-appraisal
BUnder-appraisal✓ Correct
CMarket analysis
DAssessment
Explanation
An under-appraisal results when an appraiser's conclusion of value is below the property's true market value.
Related Alabama Property Valuation Questions
- What is 'external obsolescence' in property appraisal?
- An appraisal performed 'retrospectively' (as of a past effective date) is used for:
- In the sales comparison approach, a comparable property that sold for more than the subject property due to a superior feature would require:
- The income approach to appraisal is MOST commonly used for:
- What does the principle of conformity state?
- The cost approach to value in Alabama is best used for:
- The 'sales comparison approach' to property valuation is MOST appropriate for:
- A comparable sale that sold 18 months ago may require a time (market conditions) adjustment because:
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