Property Valuation
A Wyoming appraiser is asked to provide a 'retrospective appraisal' for a property. This means the appraisal:
AIs an estimate of future value
BEstablishes the value of the property as of a past effective date✓ Correct
CReviews the property's current condition only
DIs based solely on historical cost
Explanation
A retrospective appraisal establishes the market value of a property as of a specific past date. These are commonly required for estate valuations, divorce settlements, litigation, condemnation awards, and tax purposes.
Related Wyoming Property Valuation Questions
- A Wyoming residential appraisal using the sales comparison approach typically requires a minimum of:
- An appraiser in Wyoming notes that a comparable sale was a 'distress sale' (lender-required quick sale). How should this affect the appraisal?
- A Wyoming appraiser notes that the comparable sales used in the sales comparison approach are from a 'buyer's market.' This means:
- In Wyoming, a market analysis (CMA) prepared by a real estate licensee is:
- When reconciling appraisal approaches in Wyoming, an appraiser gives the most weight to the approach that:
- The income approach to value is most appropriate for which Wyoming property type?
- A Wyoming property appraiser making adjustments in the sales comparison approach adjusts:
- External obsolescence affecting Wyoming property values might be caused by:
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