Property Valuation
In Maryland, an appraisal review involves:
AA second appraisal of the same property by a different appraiser
BStudy and analysis of an existing appraisal to form an opinion about its quality and adequacy✓ Correct
CA property inspection by SDAT
DAn audit of appraisal fees by MREC
Explanation
An appraisal review is performed by a reviewer who examines an existing appraisal to assess its quality, completeness, and adherence to USPAP, often forming their own opinion of value.
Related Maryland Property Valuation Questions
- The principle of regression in Maryland real estate means:
- In the sales comparison approach, an appraiser makes adjustments to comparables for differences. If a comparable has a feature the subject does NOT have, the adjustment to the comparable is:
- The principle of substitution states that a buyer will pay no more for a property than:
- USPAP requires a Maryland appraiser to maintain workfile records for at least:
- A Maryland property's value that is 'over-improved' for its neighborhood means:
- When appraising a Maryland historic district home, the appraiser must consider that restrictions on alterations may:
- An appraiser finds that comparable sales in a Maryland neighborhood show a consistent upward trend of 0.5% per month. A sale from 4 months ago should receive a time adjustment of approximately:
- The effective age of a Maryland building refers to:
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