Property Valuation
In South Dakota, an appraiser who provides an appraisal that they know is false or misleading may face:
AOnly civil liability from the client
BSDREC discipline, loss of license, civil liability, and potentially criminal prosecution✓ Correct
COnly a warning from the Appraisal Foundation
DA $500 fine from the SDREC
Explanation
Fraudulent appraisals can result in state appraiser board disciplinary action (license suspension/revocation), civil liability for damages, and federal criminal prosecution under banking fraud statutes.
Related South Dakota Property Valuation Questions
- In South Dakota, the 'principle of progression' in real estate valuation means:
- A South Dakota commercial appraisal using discounted cash flow (DCF) analysis considers:
- Assessed value for property tax purposes in South Dakota is typically:
- A South Dakota appraiser notes that comparable sales occurred 8 months ago. The appraiser should:
- An appraiser in South Dakota adjusts comparable sale prices for differences between comparables and the subject property. A comparable that is inferior to the subject in location would receive a:
- In South Dakota, 'market value' is best defined as:
- A South Dakota appraisal using the gross rent multiplier (GRM) divides the sale price by:
- The term 'going-concern value' for a South Dakota business property includes:
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