Property Valuation
What is 'exposure time' in a Rhode Island appraisal?
AThe time the appraisal report is available to the public
BThe estimated time a property would need to be on the market (with reasonable marketing) to sell at its appraised value✓ Correct
CThe time between listing and closing
DThe duration of the appraisal engagement
Explanation
Exposure time is the estimated time a property would need to be marketed—prior to the effective date of the appraisal—to sell at the appraised price. It is a retrospective estimate included in USPAP-compliant appraisals.
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