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6 Cards in this Set
- Front
- Back
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Appraisal |
An opinion of value; a detailed estimate of a property's value by a professional appraiser. |
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Competitive market analysis (CMA) |
Used by the broker or the salesperson to help the seller determine a listing price for the property; basically, a comparison of prices of recently sold and currently for sale properties that are similar in location, style, and amenities to the property of the listing seller. |
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Broker Price Opinion (BPO) |
Broker Price Opinion (BPO) |
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Value |
The present worth of future benefits arising from the ownership of real property. |
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Characteristics necessary for property to have value (DUST) |
a) Demand - need b) Utility - capacity to satisfy human needs c) Scarcity - finite supply d) Transferability - transfer of ownership rights |
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Market Value |
Most Profitable price property will bring in a competitive market |
