Property Valuation
An 'as improved' appraisal values the property:
AAs vacant land only
BWith all proposed or existing improvements complete✓ Correct
CAs it would look after renovation
DAt the construction cost
Explanation
An 'as improved' appraisal values the property with all existing (or proposed) improvements in place and complete. For construction projects, this is the projected value when construction is finished.
Related Georgia Property Valuation Questions
- The 'income approach' to value is MOST appropriate for:
- An adjustable rate's 'index' in an ARM loan typically refers to:
- When an appraiser reports a value 'subject to completion' on a new construction, this means:
- Assessed value in Georgia is the value used to:
- An appraisal that determines 'market value' estimates the price that:
- The 'band of investment' technique in the income approach estimates a cap rate by:
- The overall capitalization rate (OAR) for an income property reflects:
- In the cost approach, the formula for estimating value is:
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