Property Valuation
A Virginia property's 'as-is' value differs from its 'as-completed' value in that:
AThey are always equal under Virginia appraisal standards
BAs-is value reflects current condition; as-completed value reflects prospective value after improvements✓ Correct
CAs-completed value is always lower due to construction risk
DAs-is applies only to condemned properties
Explanation
An as-is appraisal values the property in its current condition. An as-completed (prospective) appraisal estimates the value as of a future date when proposed improvements are complete, used for new construction and renovation financing.
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