Property Valuation
A Colorado appraiser must comply with 'USPAP' (Uniform Standards of Professional Appraisal Practice). USPAP is developed by:
AA. The Colorado Real Estate Commission
BB. The Appraisal Standards Board of The Appraisal Foundation✓ Correct
CC. The federal government through HUD
DD. The National Association of REALTORS
Explanation
USPAP is developed and published by the Appraisal Standards Board of The Appraisal Foundation, a congressionally authorized foundation. USPAP establishes minimum ethical and performance standards for appraisers performing appraisal services. Colorado law requires licensed and certified appraisers to comply with USPAP.
Related Colorado Property Valuation Questions
- The sales comparison approach to value is most commonly used for:
- An 'arm's length transaction' in Colorado real estate appraisal means:
- An appraiser uses a cap rate of 6.5% and an NOI of $52,000 to value a Colorado office building. What is the indicated value?
- An appraiser uses the cost approach to value a Colorado commercial property. The replacement cost new is $800,000 and the property has 25% depreciation. The land is worth $150,000. What is the indicated value?
- In the income approach to valuation, the capitalization rate (cap rate) is calculated as:
- An appraiser uses the 'paired sales analysis' technique primarily to:
- Physical deterioration that is 'incurable' in appraisal means:
- An appraiser adds $10,000 to a comparable's sale price to account for a swimming pool that the subject property has but the comparable lacks. This adjustment is:
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