Type of Value Flashcards
A typical buyer, under normal condition, would have paid _____________ for the property.
market value
The type of value being developed should always be consistent with the _______________ of the appraiser’s conclusions.
Intended use
DUST(E) can also be Demand, Utility, Scarcity and ____________
effective purchasing power
Since each parcel is unique, physical characteristics are very important to _____
value
Most often, _________ is requested by those issuing insurance policies
insurable value
Market value is defined as
the most probable price a property should bring on an open and competitive market.
An arm’s length transaction is where the parties are not affected by any ____________ or _______.
unusual circumstances, terms.
An investment value is the value of a property based upon a particular investor’s ___________.
investment requirements
An use value focuses on a particular ______ rather than a particular individual
use
Market cost, market value and market price will be in balance ______.
rarely or occasionally
_______, ________, and _________ have little to do with one another.
Market cost, value, price
An _________ buyer will often demonstrate a reaction that is not consistent with the typical buyer who is knowledgeable and will offer sale price that exceeds market value and cost.
unknowledgeable
Appraiser needs to cite the source of definition of the particular type of value in an assignment because market value has ________ definitions.
numerous
Standard Rule 1-2 of USPAP requires that when ___________ is a component of the definition for the value opinion being developed.
Exposure time
assessed value is
the value placed on the property for ad valorem taxation.
