In NC, an appraiser who values a property for a divorce settlement would be performing a(n):
Why Retrospective or current market value appraisal for legal purposes Is Correct
Answer B: Retrospective or current market value appraisal for legal purposes
Exam Tip: Property Valuation
Valuation questions focus on the three approaches to value: sales comparison, cost, and income. Know which approach is best for which property type. The income approach uses cap rate and NOI — memorize these formulas.
Key Property Valuation Terms in This Question
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Related North Carolina Questions
- A NC appraiser performing a 'retrospective appraisal' is estimating the value of a property:Property Valuation
- A NC appraiser who values a property using data from a declining market (falling prices) will need to make a 'time adjustment' that is:Property Valuation
- NC's Equitable Distribution law (G.S. Chapter 50) in a divorce determines how:Property Ownership
- When a NC appraiser uses a market extraction method to determine a capitalization rate, they analyze:Property Valuation
- A NC appraisal that states the value 'as of' a specific date is reporting the property's value:Property Valuation
Key Terms to Know
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
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