Property Valuation
In Florida, a 'desk review' appraisal involves:
AA full physical inspection of the property
BReview of an existing appraisal report for adequacy and credibility without physical inspection✓ Correct
CAn automated valuation model (AVM)
DA drive-by exterior inspection only
Explanation
A desk review is an appraisal review where a reviewing appraiser evaluates the completeness, accuracy, and reasonableness of another appraiser's work product based solely on review of the report (and possibly additional data), without inspecting the property.
Related Florida Property Valuation Questions
- The income approach to value is most commonly used for which type of Florida property?
- In the sales comparison approach, the appraiser adjusts for differences between the subject property and comparable sales. If a comparable has a feature the subject lacks, the adjustment to the comparable is:
- A Florida appraiser is valuing a historic property with unique architectural features. Which approach is most appropriate?
- A Florida home was built 20 years ago but has been renovated with new kitchen, baths, and roof. Its effective age might be estimated at:
- A Florida appraiser is working on a commercial office building. Which valuation approach is likely to be given the most weight?
- In a Florida appraisal, 'land residual technique' is used to:
- An appraiser determines that a Florida property has an economic life of 40 years, was built 8 years ago, and has no deferred maintenance. Using straight-line depreciation, what percentage of the cost represents accrued depreciation?
- In the cost approach, the formula is: Value = Land Value + Depreciated Cost of Improvements. If a property has a land value of $95,000, replacement cost new of $320,000, and total accrued depreciation of 25%, the indicated value is:
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