Property Valuation
The USPAP (Uniform Standards of Professional Appraisal Practice) is:
AA set of Alabama state regulations for real estate agents
BThe nationally recognized ethical and performance standards for appraisers✓ Correct
CA requirement for all real estate transactions
DA federal law enacted by Congress
Explanation
USPAP (published by The Appraisal Foundation) establishes the ethical and performance standards that real property appraisers in the U.S. must follow. Compliance is required for federally related transactions and is generally required by state appraiser licensing laws.
Related Alabama Property Valuation Questions
- Which type of depreciation is caused by factors outside the property, such as a nearby industrial facility?
- The demand side of real estate value is influenced primarily by:
- An appraisal report is considered 'as of' a specific date because:
- What does the principle of conformity state?
- The income capitalization approach values property primarily by analyzing:
- When using the sales comparison approach to value a property in Alabama, the appraiser:
- A property has an annual gross income of $84,000, a vacancy rate of 5%, and operating expenses of $28,000. What is the NOI?
- The principle of progression in real estate means that:
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