Property Valuation
The term 'as improved' in an appraisal refers to:
AThe property after anticipated future renovations
BThe value of the property as it currently exists with existing improvements✓ Correct
CThe property at its highest and best use
DThe property's land value after removing the improvements
Explanation
'As improved' is the appraiser's value opinion of the property as it currently exists, with all existing improvements in place, as of the effective date of the appraisal.
Related Arkansas Property Valuation Questions
- The leasehold interest represents:
- A leased fee interest represents:
- The principle of anticipation holds that value is determined by:
- The sales comparison approach to value is most appropriate for:
- A property has 10 units renting at $800/month each. All units are currently occupied. Operating expenses are $40,000 annually. What is the NOI?
- The capitalization rate (cap rate) is calculated by dividing:
- What is the purpose of a Broker Price Opinion (BPO)?
- Price differs from value in real estate because price is:
Practice More Arkansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arkansas Quiz →