Property Valuation
An appraisal report in Missouri must conform to standards set by:
AThe Missouri Real Estate Commission
BThe Uniform Standards of Professional Appraisal Practice (USPAP)✓ Correct
CThe National Association of Realtors
DThe Federal Reserve
Explanation
All real property appraisals must conform to USPAP (Uniform Standards of Professional Appraisal Practice), the nationally recognized ethical and performance standards for appraisers.
Related Missouri Property Valuation Questions
- A Missouri appraiser using the sales comparison approach makes a negative adjustment for a feature the subject property lacks but the comparable has. This means:
- Functional obsolescence caused by an outdated floor plan in a Missouri home is an example of:
- In Missouri appraisal, an adjustment is made to a comparable sale for a feature the subject property lacks. This adjustment is:
- A Missouri seller's market is characterized by:
- Missouri law requires that licensed appraisers follow:
- In Missouri, economic life of an improvement refers to:
- Under Missouri property tax law, the assessment ratio for commercial property is:
- In Missouri, a property with an undesirable easement (e.g., utility corridor) would most likely sell for:
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