Term
|
Definition
- each parcel is unique in its location and composition
- land is physically immobile
- land is durable
- supply is finite
- land is useful to people
|
|
|
Term
|
Definition
| attitudes and actions of people in response to social and economic forces and the constraints of law and legal encumbrances |
|
|
Term
|
Definition
| an identification or tract of land, including improvements |
|
|
Term
|
Definition
| interests, benefits, and rights inherent in the ownership of real estate |
|
|
Term
| The USPAP definition of an appraiser is ... |
|
Definition
| one who is expected to perform valuation services competently and in a manner that is independent, impartial, and objective |
|
|
Term
|
Definition
Uniform Standards of Professional Appraisal Practice- Current standards of the appraisal profession, developed for appraisers and the users of appraisal services by the Appraisal Standards Board of The Appraisal Foundation. The standards set forth the procedures to be followed in developing an appraisal, analysis, or opinion and the manner in which it is communicated. The standards are endorsed by the AI |
|
|
Term
| Three types of valuation services... |
|
Definition
- Appraisal
- Appraisal Review
- Appraisal Consulting
|
|
|
Term
| Appraisal Reports must be prepared according to one of three reporting options: |
|
Definition
- Self-contained appraisal report: data and analyses are used are fully described
- Summary appraisal report: data and analyses summarized
- Restricted use appraisal report: conclusions stated, but that is all
|
|
|
Term
|
Definition
| act or process of developing an opinion of value |
|
|
Term
|
Definition
| act or process of developing an analysis, recommendation, or opinion to solve a problem, where an opinion of value is a component of the analysis leading to the assignment results |
|
|
Term
|
Definition
| act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed |
|
|
Term
| The type of value can be... |
|
Definition
- Market
- Use
- Investment
- Assessed
- Business
- Fair
|
|
|
