Property Valuation
A Maine appraiser uses the cost approach on a 15-year-old home. Physical depreciation based on straight-line over a 50-year economic life is:
A20%
B25%
C30%✓ Correct
D35%
Explanation
Physical depreciation = 15 ÷ 50 = 30%. Appraisers in Maine use standardized methods to estimate property value for lending and sales.. The correct answer is 30%.
Related Maine Property Valuation Questions
- A Maine appraiser is determining the value of a vacant lot for a proposed single-family home. The appraiser would primarily use which approach?
- A Maine appraiser is preparing an appraisal for a proposed subdivision. This type of appraisal is called:
- In Maine, the market data (sales comparison) approach is most useful when:
- In Maine, a licensed appraiser discovers a property has significant underground oil tank contamination. The appraiser should:
- In Maine real estate, 'under improvement' of a site means:
- In Maine, when the subject property in an appraisal is superior to a comparable sale in one feature, the adjustment is:
- A Maine appraiser is valuing a lakefront home. The home is 30 years old with a physical life of 60 years. Using age-life depreciation, the physical depreciation percentage is:
- In Maine, a certified residential appraiser may appraise:
Practice More Maine Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maine Quiz →