Property Valuation
In a Louisiana new home construction scenario, the appraiser must often complete a(n):
AAs-is appraisal based on current land value only
B'Subject to completion' appraisal that estimates value assuming the property is completed per plans and specifications✓ Correct
CRetrospective appraisal of the vacant land
DMass appraisal for tax assessment purposes
Explanation
A 'subject to completion' appraisal estimates the value of a new home 'as if' it were completed according to the plans and specifications provided — used by lenders for construction loan approvals.
Related Louisiana Property Valuation Questions
- A 'comparative market analysis' (CMA) differs from an appraisal in that a CMA:
- An appraiser in Louisiana determines a residential comparable sale has 200 more square feet of living area than the subject. If the appraiser uses $50 per square foot for size adjustments, the adjustment to the comparable is:
- An appraiser in Louisiana is asked to estimate the 'insurable value' of a property. This differs from market value because insurable value:
- A Louisiana appraiser is required to sign a certification in their appraisal report stating they have no undisclosed:
- In Louisiana appraisal, the 'scope of work' in an assignment is determined by:
- In the cost approach to appraisal, 'functional obsolescence' refers to:
- The 'income multiplier' approach is limited in accuracy because it:
- In Louisiana, an appraiser who has a financial interest in the outcome of a real estate transaction should:
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