Property Valuation
Wisconsin law requires that licensed appraisers maintain records of their appraisals for a minimum of:
A1 year
B3 years
C5 years✓ Correct
D7 years
Explanation
Wisconsin appraiser licensing law (consistent with USPAP record-keeping requirements) requires appraisers to maintain their workfiles for at least 5 years after the date of the report or 2 years after final disposition of judicial proceedings — whichever is later.
Related Wisconsin Property Valuation Questions
- The principle of substitution in real estate valuation states that:
- A Wisconsin appraiser makes a negative adjustment to a comparable sale because the comparable has a feature the subject property lacks. This means the comparable sold for:
- The 'principle of contribution' in Wisconsin appraisal means:
- Under Wisconsin law, a property owner who disagrees with their assessment may first appeal to the:
- The principle of substitution in Wisconsin appraisal practice states that:
- External obsolescence affecting a Wisconsin property could be caused by:
- In Wisconsin, 'gross rent multiplier' (GRM) is calculated as:
- In Wisconsin, the assessed value is used for:
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