Property Valuation
When an appraiser determines a value 'as if complete' for a property under construction, they are providing what type of appraisal?
AA retrospective appraisal
BA prospective (hypothetical condition) appraisal✓ Correct
CA market value appraisal of the current as-is condition
DA cost approach appraisal only
Explanation
An 'as if complete' appraisal is a prospective value opinion that reflects what the property would be worth when construction is complete. It uses a hypothetical condition (that construction is complete) and is commonly required for construction loans to ensure the completed property will have sufficient value to secure the loan.
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