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18 Cards in this Set

  • Front
  • Back

Meridians and base lines relate to the

Rectangular (government survey) survey method

Meridians and baselines are measured by

dividing the land into a series of grids

Lot and block method

Subdivisions plat maps

metes and bonds method

monuments, point of beginning

Fixture tests to determine if it is real or personal property

MARIA- method of attachment, adaptation, relationship of the parties, intention of the annexor,

Broker Price Opinion

May be used when owner is refinancing or to determine the value of property for a short sale

Conditional use permit

used to build on property for benefit of public

non-conforming use

used when property is already zoned residential and commercial property is bought and built in same area

Cost Approach formula

Replacement cost - Depreciation + Land= Value

When a comparable property has inferior amenities. The comparable property is adjusted

UP

When a comparable property has superiour improvement or addition the comparable property is adjusted

Down

Comparative Market analysis

Agent determines competitive price for property

Cost approach used for what types of properties

Churches, Libraries, New Construction

Market data approach used for what types of properties

Generally single family homes use this type of approach

Datum

point, line, or surface from which elevations are messured

Devise

The act of giving real estate through a will and the party receiving real property through a will

Open Market

Buy doesnt have to buy, seller doesnt have to sell

Annual Net Operating Income

PGI - VR+ Additional Income - Exspences = Annual Net Operating/Cap Rate=Value