Property Valuation
In Florida, an appraisal performed for a federally related transaction must be conducted by a:
ALicensed real estate broker
BFlorida certified or licensed appraiser✓ Correct
CCounty property appraiser
DReal estate attorney
Explanation
Federal regulations (FIRREA) require that appraisals for federally related transactions be performed by a state-licensed or state-certified appraiser. Florida licenses and certifies appraisers through the Florida Real Estate Appraisal Board (FREAB).
Related Florida Property Valuation Questions
- Which of the following best defines 'market value' in a Florida appraisal context?
- An appraiser is valuing a Florida duplex using the income approach. The property has a gross income of $36,000 and operating expenses of $12,000. Using a 7.5% cap rate, what is the indicated value?
- A Florida commercial strip mall has a potential gross income of $240,000, vacancy and credit losses of $24,000, and operating expenses of $96,000. The NOI is:
- A Florida appraiser places most weight on the sales comparison approach for a single-family home. This is because:
- A Florida appraiser performing a 'field review' as opposed to a 'desk review' will:
- A Florida appraiser is asked to provide a 'retrospective appraisal' of a property as of a date in the past. The appraiser should:
- In Florida, which type of appraisal report provides the most comprehensive documentation of the appraiser's analysis?
- The 'principle of progression' in real estate means that:
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