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Appraisals - Chapter 1 - Purpose and Function of an Appraisal

Horizontales
The Uniform Standards of Professional Appraisal Practice
Encounters with appraisals and appraisers will be for the purpose of valuing a property when a contract has been __.
__ has strict lending guidelines when determining property eligibility.
A house that looks similar to the houses around it will achieve its maximum value. This is referred to as the Principle of __.
Principle of __ - ask the question, "What are the future benefits?"
__ is how much of it is available.
The first step in the appraising process is to __ the problem.
There are 4 essential influencers on value and you can remember them with the acronym __.
Value in __ - In this case, the exchange is what the dollar can buy at this moment.
__ can result in the need of a property appraisal.
Verticales
There are 4 essential characteristics of value and you can remember them with the acronym __
Value in __ - Satisfies the “want “ or “desire”.
__ resulting from a job transfer is a reason for needing an appraisal.
__ domain is when a government entity takes ownership of a private property for public use.
An ad valorem tax is a tax based on the __ value of the property.
__ value is the likely cash price a property would bring in a fair sale in a competitive and open market within a reasonable marketing period of time.
Appraisals are not as common in __ sales.