Valuation & AppraisalPregunta 59 de 120
Market value is best defined as the:
a.Price the seller paid originally
b.Assessed value for taxes
c.Most probable price a property should bring in a competitive, open market
d.Replacement cost of improvements
Explicación
Market value is the most probable price a property should sell for under normal conditions, assuming a willing buyer and seller, adequate market exposure, and no undue pressure. It differs from cost and from assessed value. Appraisals typically seek to estimate market value.
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- The principle that value is maximized when properties in an area are reasonably similar in style and use is the principle of:
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- An investment property produces $60,000 in net operating income and the market capitalization rate is 8%. Using the income approach, its indicated value is:
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