Property Valuation
What is a 'desk review' appraisal in Rhode Island?
AAn appraisal conducted from the appraiser's desk without visiting the property
BA review of an original appraisal report conducted without an independent property inspection, using only the information in the original report✓ Correct
CA cursory appraisal for very low-value properties
DAn automated valuation model (AVM)
Explanation
A desk review is an appraisal review conducted entirely using the data and information contained in the original appraisal report, without an independent property inspection or access to additional data sources.
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Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Gross Rent Multiplier (GRM)A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Net Operating Income (NOI)The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
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