Property Valuation
A NH appraiser's 'as-is' value vs. 'as-repaired' value distinction is most relevant when:
AThe property is brand new
BThe property has deferred maintenance or needed repairs, and the lender or buyer wants to know value both before and after improvements✓ Correct
CThe property is being rented
DThe appraiser is completing a desk review
Explanation
As-is value reflects current condition; as-repaired (or as-renovated) value reflects value after proposed repairs are completed. Lenders use this distinction in renovation loans (FHA 203(k), Fannie Mae HomeStyle) to ensure the repaired value supports the loan.
Related New Hampshire Property Valuation Questions
- The 'income capitalization approach' to value is most appropriate for:
- The 'linkage' concept in NH real estate valuation recognizes that property values are affected by:
- A NH appraiser who discovers the property has unpermitted additions should:
- In the sales comparison approach, a time adjustment is made when:
- The gross rent multiplier (GRM) is calculated by:
- The principle of conformity in real estate appraisal holds that:
- A NH appraiser performing a desktop appraisal (no physical inspection) should be aware that:
- A comparative market analysis (CMA) in New Hampshire is prepared by:
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