Appraisal

Front 1

quantity survey

Back 1

used by contractors, most accuratr , each individual added together

Front 2

acres In a section

Back 2

640

Front 3

east to west lines

Back 3

base lines

Front 4

common clay roof tiles

Back 4

Spanish, mission, roman, english

Front 5

chattel

Back 5

personal property

Front 6

quadrangle/check

Back 6

576 square miles or 24 miles square

Front 7

typical r value exterior

Back 7

r8 to r11

Front 8

clause that would prevent mortgage assumption by new purchaser

Back 8

alienation clause

Front 9

when a mortgage covers more than one parcel

Back 9

blanket mortgage

Front 10

what does package mortgage usually cover

Back 10

real and personal property

Front 11

hypothecation

Back 11

borrower has possession of the property

Front 12

interest rate that incorporates the effect of discount points

Back 12

effective rate

Front 13

when any interest possessed by the grantor is conveyed to grantee without any warrenties

Back 13

quitclaim deed

Front 14

government takes your home paying fait market value

Back 14

eminent domain

Front 15

water dumping soil creating more land

Back 15

accretion

Front 16

can appurtenant easement transfer to future party

Back 16

yes

Front 17

what does bounds mean

Back 17

direction

Front 18

owners benefit in a lease

Back 18

leased fee

Front 19

when lessee pays all or some costs of ownership what type of lease

Back 19

net lease

Front 20

tenancity in entirety

Back 20

married couples. upon death, surviver becomes sole owner . individual cannot sell their rights without the other

Front 21

tenancy in common

Back 21

each has equal and undivided interest.

Front 22

ethics rule contains

Back 22

1. conduct 2. management 3. confidentiality

Front 23

section how many acres

Back 23

640

Front 24

used to convey real property which contains warranties of title and the grantor agrees to defend the premises against the lawful claims of third persons

Back 24

warranty deed

Front 25

how many owners for ownership in severalty

Back 25

one

Front 26

water recedes leaving dry land

Back 26

reliction

Front 27

list of appraisers eligible to perform FRT maintained by

Back 27

ASC

Front 28

appraisal standards board

Back 28

develops, interprets, and amends USPAP

Front 29

appraisal practices board

Back 29

identify and issue opinions on recognized valuation methods and techniques

Front 30

appraisal qualifications board

Back 30

establishes minimum education, experience, and examination requirements for certification

Front 31

act 28 of 1992

Back 31

governing of assessors

Front 32

what act was state board of assessors created by

Back 32

act 98

Front 33

what are pa assessors called

Back 33

certified evaluator

Front 34

continuing ed for certified residential

Back 34

28 classroom hours with law and uspap

Front 35

act that created AQB

Back 35

act 103 of 2008

Front 36

title 49 chapter 36

Back 36

rules and regulations

Front 37

structure of the board

Back 37

11 members: 6 appraisers 2 public members

Front 38

board term limits

Back 38

4 years. 2 terms

Front 39

asc resppnsibilities

Back 39

1.requirements for appraiser licensure
2. appraisal standards
3. national registry
4. review Appraisal Foundation

Front 40

prosecution handled by

Back 40

bureau of state legal office

Front 41

processing of disciplinary actions

Back 41

BPOA professional compliance office

Front 42

what is written decision by board in a disciplinary action called

Back 42

adjudication and order

Front 43

act 48 of 1993

Back 43

civil penalties

Front 44

capitalization rate

Back 44

convert income to value

Front 45

grm is multiplied by...

Back 45

monthly rent

Front 46

do you include chattel in value estimate if that is included in sale

Back 46

no

Front 47

comparable sold five months ago for $109,500 in a market with 5% annual appreciation rate. this comparable is also 8% superior to the subject. what is the net result of the adjustments ?

Back 47

first figure out appreciation:
109,500 x .05 = 5475 yearly
5476/12=456.25 monthly
456.25x5=2281.25 for five months
109,500+2281.25= 111,781.25
111,781.25/1.08= 103,501

Front 48

what is overall cap rate if loan to value ratio 80%, mortgage constant .11, NOI 100,000, annual debt service 80,000?

Back 48

100,000/80,000=1.25
1.25x.11x.80=.11

Front 49

define grm

Back 49

relationships of rent or income to selling price

Front 50

does grm consider propertys profitability ?

Back 50

no

Front 51

grm golden rules

Back 51

-always gross rents
-only include rent, no other income

Front 52

purpose of income capitalization

Back 52

return of and return on investment

Front 53

3 sections of ethics rule

Back 53

conduct, management, confidentiality

Front 54

conduct

Back 54

impartiality, objectivity, independence, without personal interest

Front 55

management

Back 55

disclose that paid a fee or commission

Front 56

building has remaining economic life of 35 years . what is recapture rate ?

Back 56

1/35= .0286 or 2.86%

Front 57

excess land

Back 57

extra land not needed for highest and best use. can be subdivided

Front 58

surplus land

Back 58

cannot be subdivided

Front 59

government agency that ensures compliance with federal banking regulations

Back 59

ffira

Front 60

what requires that appraisers pass exam

Back 60

title xi of firrea 1989