Property Valuation
Ohio's USPAP compliance requires all appraisers to:
AUse all three approaches to value in every appraisal
BDevelop and communicate appraisals in accordance with the Uniform Standards of Professional Appraisal Practice✓ Correct
CGuarantee their value opinions are accurate
DComplete a minimum of 3 inspections per appraisal
Explanation
All Ohio licensed and certified appraisers must comply with USPAP in the development and communication of their appraisals, including ethical and competency requirements.
Related Ohio Property Valuation Questions
- An Ohio appraiser's value conclusion is $310,000. Their client (a lender) wants a value of $330,000 to approve the loan. The appraiser should:
- In Ohio, the county auditor's assessed value is used to determine:
- In Ohio, a 'hypothetical condition' in an appraisal is when the appraiser:
- An Ohio appraiser is using the cost approach. The land value is $60,000 and the depreciated value of improvements is $175,000. What is the estimated property value?
- In Ohio, an appraiser must report the 'as-is' value of a property. If the property has deferred maintenance, the appraiser should:
- An Ohio appraiser needs to determine the value of a 20-unit apartment building. Which approach would typically receive the most weight?
- An Ohio appraiser determines a comparable sale involved seller financing at below-market rates, making the price higher than it would have been with typical financing. The appraiser should:
- In Ohio, which type of property would MOST likely be appraised using the 'land residual technique'?
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