Property Valuation
When an appraiser reports a value 'subject to completion' on a new construction, this means:
AA. The property is not yet appraised
BB. The value stated is conditional upon the property being completed as described in the plans and specifications✓ Correct
CC. The appraiser will revisit after construction
DD. The value is an as-is estimate
Explanation
A 'subject to completion' appraisal provides a prospective market value as of the date the property is expected to be complete, conditioned on the improvements being built according to the described plans and specifications.
Related Georgia Property Valuation Questions
- The 'band of investment' technique in the income approach estimates a cap rate by:
- An appraiser determines that a property's contributory value of a swimming pool is $15,000. This means:
- An appraiser uses the 'Marshall Valuation Service' (or similar cost data service) to estimate:
- The principle of progression states that a property's value is:
- In Georgia, the basis for the state's property tax assessment is typically:
- An appraisal that determines 'market value' estimates the price that:
- A 'market value' definition in a appraisal context assumes:
- 'Value in use' differs from 'market value' in that value in use is:
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