Property Valuation
A 'drive-by' or exterior-only appraisal in Utah is typically used for:
AAll high-value properties
BLower-risk transactions where full interior access is not required or available✓ Correct
CNew construction projects
DCommercial appraisals
Explanation
Exterior-only (drive-by) appraisals are used in lower-risk lending situations (refinances with significant equity, low LTV) where the lender determines that a full interior inspection is not required.
Related Utah Property Valuation Questions
- The principle of balance in Utah real estate valuation states that:
- In the income approach, Effective Gross Income (EGI) is calculated as:
- Physical curable depreciation in an appraisal refers to:
- In the income approach to value, Net Operating Income (NOI) is calculated as:
- The capitalization rate (cap rate) in real estate appraisal represents:
- When a comparable sale used in a Utah appraisal was a foreclosure sale, the appraiser should:
- The cost to cure principle in appraisal states that:
- A Utah property's 'as-improved' value versus its 'as-vacant' value tells an investor:
Practice More Utah Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Utah Quiz →