Property Valuation
A Texas appraiser performs a 'retrospective' appraisal. This means the appraisal:
ALooks forward to project future value
BValues the property as of an effective date in the past✓ Correct
CUses only historic sales from 5+ years ago
DValues the property using only the cost approach
Explanation
A retrospective appraisal values a property as of a historical date in the past (e.g., for estate tax purposes, litigation, or insurance claims). The appraiser uses data available as of the historical effective date, not current information.
Related Texas Property Valuation Questions
- In Texas, a 'retrospective appraisal' is performed as of a date in the past and is used for:
- In Texas, who is authorized to prepare a formal appraisal for mortgage lending purposes?
- In Texas, the 'market extraction method' for determining an appropriate overall capitalization rate involves:
- External obsolescence affecting a Texas property is BEST described as:
- The principle of substitution states that a buyer will pay no more for a property than:
- The term 'as-is' value in a Texas appraisal means:
- Texas real estate appraisers are licensed by:
- In Texas, the 'income multiplier' approach (such as the GRM) differs from the capitalization approach in that:
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