Property Valuation
A South Carolina appraisal report must be prepared by:
AA licensed real estate agent
BA state-licensed or state-certified appraiser✓ Correct
CThe closing attorney
DThe mortgage lender
Explanation
Federal regulations require federally related mortgage transactions to use appraisals prepared by state-licensed or state-certified appraisers in accordance with USPAP (Uniform Standards of Professional Appraisal Practice).
Related South Carolina Property Valuation Questions
- In South Carolina, which type of value is determined for insurance purposes?
- Which of the following is NOT included in the cost approach to value?
- Which of the following South Carolina properties would LEAST benefit from the income approach to value?
- In South Carolina, 'reproduction cost' differs from 'replacement cost' in that:
- In South Carolina, the 'market value' of a property differs from 'market price' in that:
- In South Carolina, the 'principle of substitution' in appraisal holds that:
- In South Carolina, a 'sight value premium' for a waterfront property represents what type of value?
- A South Carolina appraiser uses 'regression analysis' in their appraisal to:
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