Module 15

Module 15 explains the overall real estate appraisal process, including federal and state regulations for appraising, the difference between appraisers and real estate licensees and appraisals and competitive market analyses (CMA’s), price and cost and value, the definition of market value, principles and steps of the appraisal process, the different appraisal report forms, estimating the value of real property, and the gross multiplier analysis.

When you finish reading this module you will be able to:

  1. Describe federal and state regulations pertaining to appraising.
  2. Describe the difference between appraisers and real estate licensees and between appraisals and competitive market analyses (CMAs).
  3. Distinguish among cost, price, and value.
  4. Define market value and describe its underlying assumptions.
  5. Distinguish among the various types of value.
  6. Describe the four characteristics of value.
  7. Characterize the principles of appraising.
  8. Describe the steps in the appraisal process.
  9. Characterize the different appraisal report forms.
  10. Distinguish among the three approaches to estimating the value of real property.
  11. Calculate value using gross multiplier analysis.
  12. Explain how to prepare a comparative market analysis.

 

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