Champions School of Real Estate-
Principles of Real Estate II) 100 %
Verified Question & Answers
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an appraiser's opinion of value, used to determine market value
property to secure the loan - Ans>>>Appraisal
Percentage of value or sales price that a lender is willing to finance -
Ans>>>Loan to Value Ratio
an appraisal that simply reviews a checklist of items as they analyze the
appraisal report for completeness and acceptable conclusions -
Ans>>>Desk Review
,An independent 3rd party appraiser will be contracted to review the
appraisal report to verify accuracy of data, elements and procedures
used. - Ans>>>Field Review
an exterior only or drive by inspection - Ans>>>Limited Appraisals
the legal use that gives the greatest return in money or amenities. -
Ans>>>Highest and Best use
the value of a property is equal to the sum of the contributory value of
each of its component parts. Cost does not equal value -
Ans>>>Principal of contribution
Change is constant, and are always effecting value - Ans>>>Principle of
change
the purchase price is affected by the expectation of future appeal and
benefits - Ans>>>Principle of Anticipation
value of commodity is influenced by the cost of acquiring a substitute
or comparable item - Ans>>>Principle of Substitution
value is maximized when there is a reasonable degree of homogeneity
or sameness in a neighborhood. - Ans>>>Principal of Conformity
, improve but don't over improve; improve property when the value
added by the improvement exceeds the cost of the improvement. -
Ans>>>Principle of Increasing and Decreasing Returns
Demand is great and supply is short, prices increase; supply is high
demand is low prices decrease - Ans>>>Principle of Supply and Demand
lower priced properties in the area will cause a decline in the value of
the subject property - Ans>>>Principle of regression
Absence of competition will cause prices to increase in the
marketplace; increased competition tend to bring prices down -
Ans>>>Principle of Competition
Demand
Utility
Scarcity
Transferability - Ans>>>Characteristics of Value
must be sufficient demand for the property for it to have value -
Ans>>>Demand
Must be able to fulfill a need. - Ans>>>Utility
Principles of Real Estate II) 100 %
Verified Question & Answers
Guaranteed success rated A+
an appraiser's opinion of value, used to determine market value
property to secure the loan - Ans>>>Appraisal
Percentage of value or sales price that a lender is willing to finance -
Ans>>>Loan to Value Ratio
an appraisal that simply reviews a checklist of items as they analyze the
appraisal report for completeness and acceptable conclusions -
Ans>>>Desk Review
,An independent 3rd party appraiser will be contracted to review the
appraisal report to verify accuracy of data, elements and procedures
used. - Ans>>>Field Review
an exterior only or drive by inspection - Ans>>>Limited Appraisals
the legal use that gives the greatest return in money or amenities. -
Ans>>>Highest and Best use
the value of a property is equal to the sum of the contributory value of
each of its component parts. Cost does not equal value -
Ans>>>Principal of contribution
Change is constant, and are always effecting value - Ans>>>Principle of
change
the purchase price is affected by the expectation of future appeal and
benefits - Ans>>>Principle of Anticipation
value of commodity is influenced by the cost of acquiring a substitute
or comparable item - Ans>>>Principle of Substitution
value is maximized when there is a reasonable degree of homogeneity
or sameness in a neighborhood. - Ans>>>Principal of Conformity
, improve but don't over improve; improve property when the value
added by the improvement exceeds the cost of the improvement. -
Ans>>>Principle of Increasing and Decreasing Returns
Demand is great and supply is short, prices increase; supply is high
demand is low prices decrease - Ans>>>Principle of Supply and Demand
lower priced properties in the area will cause a decline in the value of
the subject property - Ans>>>Principle of regression
Absence of competition will cause prices to increase in the
marketplace; increased competition tend to bring prices down -
Ans>>>Principle of Competition
Demand
Utility
Scarcity
Transferability - Ans>>>Characteristics of Value
must be sufficient demand for the property for it to have value -
Ans>>>Demand
Must be able to fulfill a need. - Ans>>>Utility
