Property Valuation
In Texas, a 'retrospective appraisal' is performed as of a date in the past and is used for:
APredicting future property values
BEstate taxes, divorce proceedings, litigation, and other situations requiring a value opinion at a prior date✓ Correct
CCurrent purchase transactions only
DRefinancing purposes when the property was previously mortgaged
Explanation
A retrospective appraisal forms a value opinion as of a historical date rather than the current date. They are used for estate tax purposes (value at date of death), divorce proceedings (value at date of marriage or separation), condemnation cases (value at date of taking), and litigation involving disputes about past property values.
Related Texas Property Valuation Questions
- When appraising a single-family home, the sales comparison approach requires adjustments when comparable sales differ from the subject property. A positive adjustment means:
- An appraiser conducting a Texas appraisal must be objective and independent. When the lender pressures the appraiser to hit a predetermined value, the appraiser should:
- A property recently sold for $350,000. The buyer paid $5,000 above appraised value due to a competitive bidding situation. For comparable sales purposes, the appraiser would most likely:
- A Texas property's assessed value for tax purposes ($380,000) differs from the appraised market value ($450,000). For a real estate sale, the relevant value is:
- In Texas, who is authorized to prepare a formal appraisal for mortgage lending purposes?
- The income capitalization approach is most appropriate for valuing:
- In real estate appraisal, 'market rent' versus 'contract rent' is relevant because:
- A Texas appraiser determines a capitalization rate using market extraction. This process involves:
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