Property Valuation
What is an appraisal review and who typically performs it?
AA government review of all appraisals
BAn independent evaluation of an appraisal's quality and credibility, performed by another appraiser✓ Correct
CA client's disagreement with an appraisal
DA title company's review of the property
Explanation
An appraisal review is an independent evaluation of an existing appraisal's adequacy, reasonableness, and credibility, performed by another qualified appraiser. Lenders commonly use desk reviews and field reviews to quality-check appraisals.
Related Ohio Property Valuation Questions
- What is an automated valuation model (AVM)?
- An Ohio appraiser is completing a URAR (Uniform Residential Appraisal Report). What is the minimum number of comparable sales typically required?
- An Ohio property has a gross income of $50,000, a 10% vacancy loss, and operating expenses of $20,000. What is the NOI?
- What does 'effective age' mean in an appraisal?
- What is the profit (markup) on resale calculation in real estate investment?
- Which type of depreciation in the cost approach is considered incurable because it is caused by factors external to the property?
- What is the income multiplier method for valuing small residential rental properties?
- An Ohio appraiser uses the 'direct capitalization' method. They divide the property's NOI by the market cap rate to arrive at:
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