Property Valuation
In Kentucky, an appraisal developed for federal mortgage lending purposes must comply with:
AOnly USPAP
BUSPAP and the Appraiser Independence Requirements (AIR)✓ Correct
COnly the lender's internal guidelines
DKREC's appraiser licensing rules only
Explanation
Appraisals for federal mortgage lending must comply with USPAP and the Appraiser Independence Requirements (AIR), which prohibit lender influence on the appraiser's value opinion.
Related Kentucky Property Valuation Questions
- A Kentucky appraiser values land separately from improvements because:
- When appraising a Kentucky single-family home in a stable market, the appraiser should select comparable sales that are ideally:
- In Kentucky, a property's 'as-is' value versus its 'as-repaired' value may differ significantly when:
- The annual depreciation rate of a 40-year economic life building is:
- The gross rent multiplier (GRM) for a Kentucky residential rental property is calculated as:
- In Kentucky, which of the following would reduce a property's market value?
- Progression in property valuation means a lower-value property:
- In Kentucky, the property tax rate is expressed in:
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