Hoạt động cấp khoản vayCâu 270 / 400
An appraisal uses the cost approach on a newer, unique home with few comparable sales. The cost approach estimates value by:
a.Averaging the last three listing prices
b.Capitalizing the property's rental income
c.Using only the borrower's opinion of value
d.Adding land value to the replacement cost of improvements, less depreciation
Giải thích
The cost approach estimates value as the land value plus the current cost to replace the improvements, minus accrued depreciation. It is most useful for new or special-purpose properties with limited comparable sales. It is not based on listings, income capitalization, or borrower opinion.
Luyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A borrower's application shows income from child support they wish to use to qualify. How may this income be treated?
- A closing is scheduled, but the underwriter adds a 'prior-to-funding' condition. How does this differ from a 'prior-to-doc' condition?
- After closing, a lender compiles loan-level data such as loan purpose, applicant demographics, and action taken for annual reporting. Which law drives this data collection?
- A borrower makes a 20% down payment on a conventional loan. What is one common effect on the loan structure?
- An appraiser adjusts a comparable that has an extra bathroom compared to the subject property. In the sales comparison approach, adjustments are made to the:
- At settlement on a purchase, property taxes are 'prorated' between buyer and seller. What does proration accomplish?
Cập nhật gần nhất: · quy trình kiểm tra
Đội Ngũ Biên Tập PrepPass · Đối chiếu với NMLS SAFE Mortgage Loan Originator National Test · Quy trình kiểm tra