Property Valuation (alternative)
A Maryland appraiser who completes a 'desktop' appraisal uses:
AOnly the tax records for value
BPublic records, MLS data, and other available data without a physical inspection of the property✓ Correct
CAn interview with the seller instead of an inspection
DOnly aerial photography to assess condition
Explanation
A desktop appraisal relies on available data sources — public records, MLS, county records — without a physical property inspection. It is less reliable than a full inspection appraisal.
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Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
DepreciationA reduction in the value of an improvement (building) over time due to physical deterioration, functional obsolescence, or external factors.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
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