Property Valuation
In North Dakota property appraisal, the concept of 'interim use' refers to:
AA temporary use of property that yields the best return during a transition period until development is feasible✓ Correct
BA federal classification for agricultural land
CThe appraiser's fee for interim appraisal work
DA lease that is temporary pending a sale
Explanation
Interim use is the use of a property that currently provides the best return during a period before a higher and better use becomes feasible or practical (e.g.
Related North Dakota Property Valuation Questions
- Functional obsolescence in appraisal refers to:
- Which factor would MOST LIKELY cause a property's value to DECREASE?
- A North Dakota property appraiser's opinion of value differs significantly from the sale price. The appraiser should:
- In North Dakota, a 'feasibility analysis' for a proposed commercial development determines whether:
- An appraiser in North Dakota must be licensed or certified because:
- What is a 'gross income multiplier' (GIM) used for in North Dakota commercial property valuation?
- An appraiser in North Dakota determines the 'replacement cost new' of a building. This is the cost to build a:
- What is 'plottage value' (plottage increment) in North Dakota real estate appraisal?
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →