Property Valuation
A Kansas appraiser is asked to provide a 'retrospective appraisal.' This means the value opinion is as of:
AA future date
BA historical date in the past✓ Correct
CThe date the appraisal is signed
DThe date the property was last sold
Explanation
A retrospective appraisal provides a value opinion as of a historical date — common for estate tax purposes, litigation, insurance claims, and other situations requiring historical value.
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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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