Property Valuation
When a property's value is affected by 'assemblage,' this refers to:
AThe combination of several contiguous parcels into one larger parcel that creates plottage value✓ Correct
BThe process of building improvements on vacant land
CThe valuation of a property as individual components
DThe depreciation of improvements over time
Explanation
Assemblage is the combining of two or more contiguous parcels into one larger parcel. The resulting increase in value beyond the sum of the individual parcel values is called plottage. This occurs because the combined parcel may allow development that individual smaller parcels could not accommodate.
Related Texas Property Valuation Questions
- A property appraiser must reconcile value indications from multiple approaches. The weight given to each approach should be based on:
- The principle of substitution states that a buyer will pay no more for a property than:
- A Texas property has both a large garage and a pool. An appraiser values these separately. Which term applies to each feature's value contribution?
- In Texas, properties sold under duress (foreclosure, estate sale, divorce) are generally:
- In real estate, the principle of 'conformity' states that property value is maximized when:
- When appraising a property for divorce proceedings or estate purposes in Texas, the appraiser's 'hypothetical condition' or 'extraordinary assumption' must be:
- A Texas appraiser determines that a comparable sale was made under duress (e.g., foreclosure). This sale should typically:
- A 'drive-by' or exterior-only appraisal for a Texas property uses FNMA Form:
Practice More Texas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Texas Quiz →