Property Valuation
The term 'as-is' value in a Texas appraisal means:
AThe value of the property in its proposed improved condition
BThe value of the property in its current condition on the effective date of the appraisal✓ Correct
CThe value after all deferred maintenance is completed
DThe value without any adjustments for market conditions
Explanation
The 'as-is' value (or 'as-is market value') reflects the property's value in its current condition as of the appraisal effective date, including all current deficiencies, deferred maintenance, and market conditions.
Related Texas Property Valuation Questions
- A Texas appraiser determines that a property's highest and best use is commercial rather than its current residential use. For appraisal purposes, the appraiser should:
- In the income approach, stabilized NOI means:
- In Texas, properties sold under duress (foreclosure, estate sale, divorce) are generally:
- Under Texas Property Tax Code, agricultural land that qualifies for 'ag use' valuation is taxed based on:
- 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:
- In Texas, the assessed value for property tax purposes can be LOWER than market value because:
- 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:
- A Texas commercial appraiser uses 'discounted cash flow' (DCF) analysis for a 10-year hold period. The discount rate used reflects:
Practice More Texas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Texas Quiz →