term1 Definition1term2 Definition2term3 Definition3
Please sign in to your Google account to access your documents:
Appraisal
An opinion of value; a detailed estimate of a property's value by a professional appraiser.
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.
Broker Price Opinion (BPO)
Value
The present worth of future benefits arising from the ownership of real property.
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
Market Value
Most Profitable price property will bring in a competitive market
Need help typing ? See our FAQ (opens in new window)
Please sign in to create this set. We'll bring you back here when you are done.
Discard Changes Sign in
Please sign in to add to folders.
Sign in
Don't have an account? Sign Up »
You have created 2 folders. Please upgrade to Cram Premium to create hundreds of folders!