Property Valuation
A Massachusetts appraiser conducting an 'as-proposed' (prospective) appraisal for a new construction project must:
AOnly use the cost approach
BEstimate the value of the property as it would exist after completion, based on plans and specifications✓ Correct
CUse only comparable sales from the past 90 days
DHave the construction complete before appraising
Explanation
A prospective or 'as-proposed' appraisal estimates the completed property's market value based on the building plans, specifications, and market data. It is used by lenders for new construction loans.
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