Property Valuation
What is an as-is value versus an as-repaired value in Nevada appraisal?
AThey are always the same; the terms are interchangeable
BAs-is value reflects the property's current condition; as-repaired value reflects the value after specified improvements are made✓ Correct
CAs-repaired value applies to commercial properties only
DAs-is value is used for tax assessments; as-repaired for sales
Explanation
In Nevada appraisals (especially for FHA 203k rehab loans or investor properties), the as-is value reflects current market value in present condition, while the as-repaired (or after-improved) value reflects the projected market value after specified repairs or improvements.
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