Property Valuation
In Maine appraisal practice, 'Uniform Standards of Professional Appraisal Practice (USPAP)' sets:
AProperty tax assessment standards
BEthical and professional standards for appraisers including competency, independence, and report requirements✓ Correct
CStandards for real estate license examinations
DMLS listing standards
Explanation
USPAP establishes the ethical and professional standards for appraisers in the United States, including requirements for competency, independence, objectivity, and proper reporting of appraisal conclusions.
Related Maine Property Valuation Questions
- Seasonal and vacation properties in Maine are typically valued using which primary approach?
- When appraising a unique Maine waterfront estate with no direct comparable sales, an appraiser would most likely rely on the:
- 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:
- When using the income approach for a Maine apartment complex, the gross rent multiplier (GRM) method uses:
- A Maine commercial property has a net operating income (NOI) of $45,000 per year. Using a capitalization rate of 7.5%, the estimated value is:
- In Maine, which appraisal approach would typically be most appropriate for a 20-unit apartment building?
- In real estate appraisal, a 'comparable sale' (comp) used in the sales comparison approach should be:
- A Maine appraiser must maintain independence from the client and produce an appraisal that reflects:
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