Property Valuation
When an appraiser completes an appraisal in Alabama, the report is addressed to the:
ASeller
BBuyer
CClient who engaged the appraiser✓ Correct
DAlabama Real Estate Commission
Explanation
An appraisal report is prepared for and addressed to the client who engaged the appraiser, typically the lender in a purchase transaction.
Related Alabama Property Valuation Questions
- The principle of substitution states that a buyer will pay no more for a property than:
- Which approach to value is most commonly used to appraise single-family residences?
- The principle of increasing and decreasing returns states that adding more improvements to a property:
- Which of the following BEST defines 'market value'?
- What is the indicated value of a property with an annual NOI of $36,000 and a capitalization rate of 7.5%?
- The principle of anticipation in real estate value states that:
- In a sales comparison appraisal, the phrase 'adjusting to the subject' means:
- A property has a gross monthly rent of $2,000. Comparable properties have sold at a Gross Rent Multiplier (GRM) of 120. What is the estimated value?
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