Property Valuation
An 'as-improved' appraisal assumes that:
AThe property has been appraised as-is, including all defects
BThe property reflects proposed or planned improvements that have not yet been completed✓ Correct
COnly completed renovations are included in value
DThe property is valued at its historical cost
Explanation
An as-improved (as-proposed) appraisal values the property as if the planned improvements have been completed, typically used for new construction or planned renovation financing.
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