Property Valuation
A 'fee appraiser' in NC is different from an 'in-house' appraiser in that a fee appraiser:
AWorks exclusively for one lender
BWorks independently and is hired on a per-assignment basis✓ Correct
COnly values commercial properties
DIs employed by the government
Explanation
A fee (independent) appraiser is self-employed or works for an appraisal firm and is hired on a per-assignment basis by various clients. An in-house appraiser is employed by a single entity (such as a bank).
Related North Carolina Property Valuation Questions
- NC appraisers must comply with the Uniform Standards of Professional Appraisal Practice (USPAP). USPAP requires appraisers to provide:
- In the cost approach, what does accrued depreciation include?
- External (economic) obsolescence in real estate is characterized as:
- The economic life of an improvement is the period during which:
- Functional obsolescence in a NC property is caused by:
- Regression in real estate value means:
- An appraiser in North Carolina using the income approach would NOT include which of the following in operating expenses?
- Depreciation in the cost approach to real estate valuation refers to:
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