Property Valuation
In Wyoming, the sales comparison approach relies on:
AThe cost to rebuild the property new minus depreciation
BThe net operating income divided by the capitalization rate
CRecent sales of comparable properties adjusted for differences✓ Correct
DThe county assessor's assessed value
Explanation
The sales comparison approach (market approach) is based on recent sales of similar (comparable) properties. Adjustments are made for differences between the subject property and each comparable sale.
Related Wyoming Property Valuation Questions
- The Uniform Standards of Professional Appraisal Practice (USPAP) requires Wyoming appraisers to:
- A Wyoming appraiser using the direct capitalization method would estimate value by:
- In Wyoming, the principle of change recognizes that:
- An appraiser making a positive adjustment to a comparable sale in Wyoming means:
- In Wyoming, a leasehold estate has value when:
- Accrued depreciation in the cost approach means:
- The income approach to value is most appropriate for which Wyoming property type?
- For a Wyoming ranch appraisal, the appraiser would likely consider:
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