Property Valuation
An Alaska appraiser must certify in their report that the appraisal was performed in accordance with:
AThe Alaska Real Estate Commission's appraisal standards
BThe Uniform Standards of Professional Appraisal Practice (USPAP)✓ Correct
CHUD's residential appraisal guidelines
DThe International Valuation Standards (IVS)
Explanation
All licensed and certified appraisers in Alaska must perform appraisals in compliance with USPAP — the Uniform Standards of Professional Appraisal Practice, which are developed and published by The Appraisal Foundation. USPAP is the recognized standard for professional appraisal practice.
Related Alaska Property Valuation Questions
- Which of the following BEST describes 'effective age' in appraisal?
- When an appraiser determines that a comparable sale was made under duress (foreclosure), how should the appraiser treat it?
- Under the income approach, 'potential gross income' (PGI) is the total rental income the property would generate if:
- An Alaska waterfront cabin depreciates because a nearby factory was built after the cabin was constructed. This is an example of:
- In Alaska, a 'comparative market analysis' (CMA) prepared by a real estate agent differs from a formal appraisal because:
- A property has an EGI of $120,000 and operating expenses of $48,000. What is the net operating income (NOI)?
- A Fairbanks property's estimated remaining economic life is 35 years. The building is 15 years old with an original economic life of 50 years. The effective age is:
- An Alaska appraiser must report all values within a 'reasonable range' to avoid a USPAP violation for:
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