Property Valuation
An Oklahoma appraisal performed using the 'as-is' market value standard reflects:
AWhat the property would be worth after hypothetical repairs
BThe property's current value in its present condition, without any assumed repairs, renovations, or changes✓ Correct
COnly the land value without improvements
DThe assessed value established by the county
Explanation
An 'as-is' appraisal values the property in its current physical and legal condition, without assuming any future improvements, repairs, or changes. This differs from an 'as-completed' or 'as-stabilized' appraisal that assumes hypothetical improvements.
Related Oklahoma Property Valuation Questions
- An appraiser determines a subject property's value using the gross rent multiplier (GRM). The property rents for $1,800/month and comparable properties sell for 120 times monthly rent. The estimated value is:
- In Oklahoma's rural areas, the land residual technique for valuing agricultural land separates:
- Accrued depreciation in the cost approach to appraisal is the sum of:
- An appraisal report prepared for federally related transactions in Oklahoma must be completed by:
- When an Oklahoma commercial appraiser uses the 'band of investment' technique to derive a capitalization rate, they are:
- The principle of 'anticipation' in Oklahoma real estate appraisal means value is:
- Functional obsolescence in real estate refers to a loss in value due to:
- A Comparative Market Analysis (CMA) performed by an Oklahoma real estate agent differs from a formal appraisal in that:
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