Property Valuation
A Wisconsin appraiser who discovers that the subject property has an illegal addition (unpermitted construction) should:
AIgnore it and appraise the property as if the addition were permitted
BDisclose it and consider its impact on value, including potential costs to legalize or remove✓ Correct
COnly apprise the seller of the issue
DReport it to DSPS before completing the appraisal
Explanation
An unpermitted addition is a material fact affecting value; the appraiser must disclose it and consider its potential negative impact (costs to legalize, risk of required removal) on the property's value.
Related Wisconsin Property Valuation Questions
- Wisconsin's equalization process for property tax purposes ensures that:
- The cost approach to value is most reliable for:
- The gross rent multiplier (GRM) method estimates value by:
- Plottage value in Wisconsin refers to:
- In Wisconsin, the cost approach to valuation is MOST useful for:
- Wisconsin's property assessment is administered at the:
- A Wisconsin appraiser is performing an appraisal for a government agency acquisition. The appraisal must comply with:
- A Wisconsin buyer purchased a property for $400,000 above its independently assessed value. This is most likely an example of:
Practice More Wisconsin Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wisconsin Quiz →