Property Valuation
Indiana's Real Estate Market Data Exchange (RMDX) or similar data repositories help appraisers by:
ASetting official property values
BProviding access to sales data, listings, and market statistics useful in the sales comparison approach✓ Correct
CIssuing appraisal licenses
DAdjudicating appraisal disputes
Explanation
MLS and market data exchange systems provide appraisers with access to current and historical sales, listings, and market statistics that form the data foundation for sales comparison approach appraisals.
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- The Seller's Residential Real Estate Sales Disclosure form in Indiana requires the seller to disclose:Environmental
- Indiana's Seller's Residential Real Estate Sales Disclosure form is required in which situation?Indiana License Law
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- Indiana's Residential Real Estate Sales Disclosure form is typically delivered by the seller to the buyer:Contracts
Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
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