Property Valuation
Exposure time in an Indiana appraisal is defined as:
AThe time it takes to inspect a property
BThe estimated time the property would have been on the market before the sale at the appraised value✓ Correct
CThe time since the last sale
DThe time required to resolve any title issues
Explanation
Exposure time is the estimated time the property would have needed to be on the market prior to the appraisal date to achieve the estimated market value, assuming an arm's-length transaction.
Related Indiana Property Valuation Questions
- An appraisal conducted for mortgage lending purposes is typically ordered by:
- Indiana's personal property assessment differs from real property assessment in that personal property:
- The sales comparison approach to value is MOST appropriate for:
- The reconciliation step in an Indiana appraisal involves the appraiser:
- Surplus productivity in Indiana land economics means:
- In a sales comparison approach, a positive adjustment is made to a comparable when:
- The cost approach to value estimates property value by:
- In the income approach, Net Operating Income (NOI) is calculated as:
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