Property Valuation
An appraiser performing an appraisal for a divorce proceeding in Colorado must:
AA. Testify on behalf of one party
BB. Remain independent and unbiased, providing an objective value estimate regardless of which party hired them✓ Correct
CC. Only provide verbal opinions, not written reports
DD. Set a value that benefits the party who paid for the appraisal
Explanation
Under USPAP, all appraisals must be independent, objective, and impartial — regardless of who commissioned the appraisal. An appraiser hired for a divorce proceeding must provide their honest value opinion and cannot advocate for either party.
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Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Math Concepts
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