Property Valuation
What does 'as-is' value mean in a Louisiana appraisal?
AThe value after all repairs are completed
BThe value of the property in its current condition on the effective date of the appraisal✓ Correct
CThe value the owner paid for the property
DThe insured replacement cost value
Explanation
An 'as-is' value reflects the property's current condition as of the appraisal date — including any deferred maintenance, damage, or deficiencies — without assuming any repairs or improvements.
Related Louisiana Property Valuation Questions
- An appraiser in Louisiana is asked to estimate the 'insurable value' of a property. This differs from market value because insurable value:
- In Louisiana appraisal, the 'scope of work' in an assignment is determined by:
- A Louisiana appraiser is required to maintain workfiles for a minimum of:
- In Louisiana, the 'gross living area' (GLA) of a residential property used in appraisals typically includes:
- A Louisiana appraiser discovering that a comparatively recently sold property in the neighborhood sold for an unusually high price due to a bidding war between motivated buyers should:
- A Louisiana appraisal identifies that recent comparable sales indicate a market trend of 0.5% increase per month. A comparable sold 4 months ago for $250,000. The time-adjusted value of the comparable is:
- In Louisiana, 'stabilized value' in an income property appraisal assumes:
- A Louisiana appraiser performing an appraisal of a property in a flood zone must disclose in the appraisal report:
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