Property Valuation
In Ohio, 'personal property' items included in a commercial sale should be:
AAutomatically included in the real property appraisal without mention
BAppraised or valued separately from the real property and excluded from the real estate appraisal value✓ Correct
CAdded to the real estate value without any allocation
DIgnored because they have no market value
Explanation
USPAP requires appraisers to separately identify and allocate the value of personal property included in a transaction. Including personal property value in a real estate appraisal without allocation would misrepresent the real estate's value.
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