Property Valuation
In Tennessee, a property appraiser conducting an 'exterior-only' appraisal (drive-by appraisal) is performing a:
AFull USPAP-compliant appraisal
BLimited scope appraisal that may not accurately reflect the interior condition✓ Correct
CPhase I environmental assessment
DBroker price opinion
Explanation
An exterior-only or drive-by appraisal is a limited scope inspection that does not include the interior. The resulting value conclusion carries more uncertainty since interior condition is not directly observed.
Related Tennessee Property Valuation Questions
- In Tennessee, which of the following is a reason an appraiser might limit the number of comparables used in the sales comparison approach?
- The 'before and after' method of appraisal is used in cases of:
- The income approach to value is most appropriate for:
- In the income approach, effective gross income (EGI) is calculated as:
- When appraising a Tennessee property using the income approach, 'effective gross income' is calculated as:
- An appraisal is performed 'as of' a specific date. This date is called the:
- In Tennessee, which of the following is a 'super-adequate' feature in a property?
- A building has an economic life of 50 years and an effective age of 10 years. Its remaining economic life is:
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