Basic Appraisal Procedures 286 Questions with 100% Correct Answers | Verified | Updated 2024|30 Pages

The appraiser - ️️Who is responsible for identifying the intended use of an appraisal? Report the final opinion of value - ️️What is the final step in the valuation process? False - ️️There is one universal definition of market value used in real property appraisal. extraordinary assumption - ️️an assignment-specific assumption, as of the effective date, which, if found to be false, could alter the appraiser's opinions or conclusions Work file - ️️Documentation necessary to support an appraiser's analyses, opinions, and conclusions Maximally productive - ️️In highest and best analysis, which criterion is applied LAST? Intended users - ️️An appraisal report must contain sufficient information to allow _______ to understand the scope of work. True - ️️HUD/FHA requires an appraiser to verify all comparable sales data in an appraisal. Credible assignment results - ️️The SCOPE OF WORK RULE says "the appraiser must be prepared to demonstrate that the scope of work is sufficient to produce ______" Both appraisal and appraisal review assignments - ️️Scope of work applies to Scope of work - ️️The type of data and the extent of research and analyses