Property Valuation
When appraising a condominium unit, the appraiser must consider the:
AValue of the entire building divided by the number of units
BValue of the individual unit plus the unit's percentage interest in common elements, association financial health, and current assessments✓ Correct
COnly the interior finishes and square footage of the unit itself
DOnly comparable sales from the same building
Explanation
Appraising a condominium unit requires considering the value of the unit itself, its percentage interest in common elements, the financial health and reserves of the condominium association, current monthly assessments, any pending special assessments, and comparable sales both within the building and in competing buildings.
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