Property Valuation
In Missouri, a 'desk review' of an appraisal involves:
AA new physical inspection of the property
BA review of the appraisal report's data and conclusions without a site visit✓ Correct
CA full new appraisal
DOnly reviewing the property tax records
Explanation
A desk review is an appraisal review conducted by examining the report's data, methodology, and conclusions without visiting the property, used by lenders to check appraisal quality.
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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.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Net Operating Income (NOI)The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
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