Property Valuation
The principle of conformity in Maryland real estate appraisal states that:
AAll properties must conform to zoning regulations
BA property achieves its maximum value when surrounded by properties of similar size, style, and use✓ Correct
CAppraisers must conform to USPAP
DAll comparable sales must occur in the same neighborhood
Explanation
Conformity (also related to regression and progression) holds that properties achieve maximum value when they blend harmoniously with surrounding properties of similar type, size, and use.
Related Maryland Property Valuation Questions
- The principle of substitution in Maryland real estate appraisal states:
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- Which type of depreciation is caused by poor floor plan design and is generally considered incurable?
- When appraising a Maryland historic district home, the appraiser must consider that restrictions on alterations may:
- In Maryland, the principle of contribution states that the value of a component is measured by:
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