Property Valuation
What is an automated valuation model (AVM)?
AA computer-generated valuation using statistical models and public data✓ Correct
BA government appraisal tool
CA self-appraisal by the property owner
DAn appraiser's computerized report
Explanation
AVMs use statistical models, public records, and market data to generate property value estimates without a physical inspection. They are used by lenders for preliminary screening but do not replace certified appraisals for most lending.
Related Ohio Property Valuation Questions
- What is an assemblage premium in real estate valuation?
- What does 'arm's-length transaction' mean in the context of Ohio comparable sales?
- In Ohio, a 'desk review' appraisal is a type of appraisal review that:
- Which appraisal principle states that a buyer will pay no more for a property than the cost of acquiring an equally desirable substitute?
- Ohio's USPAP compliance requires all appraisers to:
- An Ohio appraiser uses the sales comparison approach. Which of the following adjustments is made to the COMPARABLE sale, not the subject?
- What is a drive-by appraisal?
- What is the income multiplier method for valuing small residential rental properties?
Practice More Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →