Property Valuation
Missouri law requires that licensed appraisers follow:
AMREC guidelines only
BUSPAP (Uniform Standards of Professional Appraisal Practice)✓ Correct
CLocal MLS standards
DOnly federal guidelines for federally related transactions
Explanation
Missouri licensed and certified appraisers must comply with USPAP, the national ethical and performance standards for appraisers. USPAP compliance is also required for federally related transactions.
Related Missouri Property Valuation Questions
- In Missouri, a 'market rent' appraisal determines:
- The 'principle of progression' in Missouri real estate appraisal suggests that:
- In Missouri, an appraiser's determination of 'market value' assumes:
- In Missouri, a 'desk review' of an appraisal involves:
- A 'broker price opinion' (BPO) in Missouri is:
- A Missouri appraiser values a property using the income approach. The property has gross rental income of $48,000/year, vacancy and collection losses of 5%, and operating expenses of $18,000. What is the NOI?
- In Missouri, the market data approach (sales comparison) requires the appraiser to make adjustments for differences between comparable sales and the subject property. An adjustment for a feature the subject has but the comparable lacks is:
- The principle of substitution in Missouri appraisal states that:
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