Property Valuation
When reconciling appraisal approaches for a Maine income-producing property, the appraiser would typically give the LEAST weight to the:
AIncome approach
BSales comparison approach
CCost approach✓ Correct
DGross rent multiplier method
Explanation
For income-producing properties, the cost approach generally receives the least weight because investors primarily purchase based on income potential, not replacement cost. The income approach receives the most weight.
Related Maine Property Valuation Questions
- A Maine property has a replacement cost new of $400,000 and total accrued depreciation of $60,000. The land value is $75,000. What is the value indication using the cost approach?
- A Maine appraiser estimates a home's value at $310,000 using the cost approach, $325,000 using the sales comparison approach, and $290,000 using the income approach. For a primary residence, the appraiser would most likely weight which approach most heavily?
- A Maine vacant lot sold for $80,000. A similar lot with a lake view recently sold for $110,000. The appraiser would make what adjustment for the lake view?
- When a Maine appraiser uses the cost approach, the value of the land is estimated:
- A Maine appraiser's report is considered confidential and may be shared with:
- Seasonal and vacation properties in Maine are typically valued using which primary approach?
- In Maine, 'economic life' of a building means:
- An appraiser in Maine performing a 'retrospective appraisal' for a property that sold 3 years ago will use comparable sales that are:
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