Property Valuation
An appraisal is defined as:
AThe sale price agreed upon by buyer and seller
BA tax assessment conducted by the county
CAn unbiased opinion of a property's value✓ Correct
DThe amount a lender will loan on a property
Explanation
An appraisal is a professional, unbiased opinion of a property's value performed by a licensed or certified appraiser. It is based on market data and analysis, not the desires of the buyer, seller, or lender.
Related Idaho Property Valuation Questions
- In Idaho, what government office produces the assessed value used for property tax calculations?
- An arm's-length transaction is one that:
- Which of the following would be considered a physical characteristic affecting property value?
- What is the 'capitalization rate' primarily influenced by in Idaho's market?
- When an appraiser makes a positive adjustment to a comparable sale, it means:
- The income capitalization approach is MOST appropriate for valuing:
- When an appraiser 'brackets' comparable sales, they are:
- What type of depreciation is considered 'incurable' in an appraisal?
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