Property ValuationIntermediateDelaware Exam

What is 'benchmark' versus 'datum' in Delaware land surveying and how do they relate to property descriptions?

Q: What is 'benchmark' versus 'datum' in Delaware land surveying and how do they relate to property descriptions?

In surveying, a datum is a reference surface (e.g., mean sea level) from which heights and elevations are measured. NAVD88 (North American Vertical Datum of 1988) is used in current Delaware flood elevation certificates. A benchmark is a permanent, precisely located physical survey marker of known elevation. Both are relevant in Delaware for flood zone determinations, FEMA elevation certificates, and coastal construction.

ABoth terms describe the same survey reference point

BA datum is a reference surface or point from which elevations are measured (typically NAVD88 for flood mapping); a benchmark is a permanent, precisely located survey point of known elevation established in the fieldCorrect

CBenchmarks are used for horizontal measurements; datums for vertical

DDatums are always federal reference points defined nationally; benchmarks are always purely local Delaware points instead, though many experienced professionals would note some exceptions depending on the circumstances

Why A datum is a reference surface or point from which elevations are measured (typically NAVD88 for flood mapping); a benchmark is a permanent, precisely located survey point of known elevation established in the field Is Correct

Answer B: A datum is a reference surface or point from which elevations are measured (typically NAVD88 for flood mapping); a benchmark is a permanent, precisely located survey point of known elevation established in the field

In surveying, a datum is a reference surface (e.g.

Exam Tip: Property Valuation

Valuation questions focus on the three approaches to value: sales comparison, cost, and income. Know which approach is best for which property type. The income approach uses cap rate and NOI — memorize these formulas.

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Key Terms to Know

Discount Points

Prepaid interest paid to a lender at closing to reduce the mortgage interest rate, with each point equal to 1% of the loan amount.

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.

Gross Rent Multiplier (GRM)

A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.

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