Property Valuation
In Montana, when an appraiser states that their appraisal is an 'as-improved' value 'subject to' specific conditions, this means:
AThe value assumes all permits have been obtained
BThe value is conditional on specified future events or conditions being completed (such as construction or repairs), and reflects what the value will be once those conditions are met✓ Correct
CThe value includes all existing improvements at their current condition
DThe appraisal is subject to future review and may be changed
Explanation
An 'as-improved' or 'subject to' appraisal values the property assuming specific conditions will be met—such as completion of construction, installation of improvements, or performance of repairs. The value is conditional on those improvements being completed.
Related Montana Property Valuation Questions
- A Montana appraiser must retain their appraisal workfile for a minimum of:
- In valuing a Montana ranch, an appraiser must consider which unique factors not typically present in urban residential appraisals?
- When appraising Montana agricultural land, which factor is MOST important?
- Functional obsolescence in real estate refers to:
- An appraiser's value opinion represents:
- In Montana, an appraiser is required to follow the Uniform Standards of Professional Appraisal Practice (USPAP), which are:
- When appraising a historic building in downtown Bozeman, the appraiser must consider:
- In Montana, 'comparable rent analysis' is used by property managers and appraisers to:
Practice More Montana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Montana Quiz →