Property Valuation
In Indiana, the Uniform Residential Appraisal Report (URAR) form is used to appraise:
ACommercial multi-tenant office buildings
BOne-to-four family residential properties for mortgage lending purposes✓ Correct
CAgricultural land for USDA loans
DCondominium common areas
Explanation
The URAR (Fannie Mae Form 1004) is the standard appraisal form for one-to-four family residential properties used in connection with conventional mortgage lending.
Related Indiana Property Valuation Questions
- The land residual technique in Indiana income property appraisal estimates land value by:
- The sales comparison approach to value is MOST appropriate for:
- Indiana's DLGF (Department of Local Government Finance) oversees:
- Which appraisal approach is typically used for special-purpose properties like churches or schools?
- An appraisal conducted for mortgage lending purposes is typically ordered by:
- The principle of conformity states that property value is maximized when:
- Stigmatized property in Indiana (such as a property where a crime occurred) may have reduced value due to:
- A capitalization rate is used in the income approach to:
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