Property Valuation
An Oklahoma appraiser's final opinion of value in an appraisal report is expressed as:
AA range of values without a single estimate
BA single dollar amount (point value), a range of value, or sometimes a point value with a disclaimer; USPAP allows various formats depending on the scope of work✓ Correct
COnly the rounded assessed value
DThe average of three different approaches
Explanation
USPAP allows appraisers to express value as a specific dollar amount, a range, or describe the value opinion based on scope of work. For most residential mortgage appraisals, a specific single point value estimate is required by the lender.
Related Oklahoma Property Valuation Questions
- When an Oklahoma appraiser values an older historic property in Tulsa's Brady Village or Midtown Oklahoma City, they must consider:
- In the cost approach, accrued depreciation includes which three types?
- Principles of value state that value is created by the interaction of supply and demand. Which principle holds that value is influenced by what a prudent buyer would pay for a similar property?
- An appraisal adjustment for a feature in the sales comparison approach is made to:
- External obsolescence differs from functional obsolescence in that external obsolescence:
- 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:
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