Property Valuation
In Maine, a certified residential appraiser may appraise:
AOnly properties under $250,000
BAll residential properties regardless of value
COnly commercial properties
DResidential properties of 1–4 units of any value✓ Correct
Explanation
A certified residential appraiser in Maine is licensed to appraise non-complex 1-4 unit residential properties. There are different license levels: trainee, licensed, certified residential, and certified general.
Related Maine Property Valuation Questions
- A Maine appraiser is preparing an appraisal for a proposed subdivision. This type of appraisal is called:
- A Maine appraiser uses the 'gross rent multiplier' (GRM) method. A property rents for $1,200/month and comparable sales suggest a GRM of 130. The estimated value is:
- A Maine appraiser uses a paired sales analysis to determine that a garage adds $18,000 to property value. This technique is used in the:
- A Maine appraiser determines that a property has an effective age of 20 years and a total economic life of 60 years. The straight-line depreciation percentage is:
- A Maine home has four bedrooms but only one bathroom. This is an example of:
- An appraiser in Maine uses the sales comparison approach and finds three comparable sales at $275,000, $290,000, and $285,000. The unadjusted average value would be:
- The net operating income (NOI) of a property is calculated as:
- The 'principle of substitution' in Maine real estate appraisal states that:
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