When documenting a condo, coop, condop, or PUD project, what must an appraiser list first?
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The correct answer is...
The project’s official name and the source of the project information.
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How should special amenities such as boat slips or storage units be noted in the appraisal report?
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State whether each amenity is assigned, owned, unassigned, or leased, and explain its effect in the commentary section.
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What steps must the appraiser take if the project has physical deficiencies?
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Identify the deficiency, describe it in detail, and attach a photograph if it’s a physical issue.
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A project has been converted into condos, coops, or condops within the last three years. What must be recorded in the report?
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Note the conversion, which will show in the Project Factors table under “Converted in Past 3 Years”
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For projects that require ground rent, what information is necessary to include in the appraisal?
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For projects that require ground rent, what information is necessary to include in the appraisal?
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When does the “Incomplete Project” indicator appear in the Project Factors table?
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It displays whenever any phase, unit, or amenity in the project has not been fully completed
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Transcript
When documenting a condo, coop, condop, or PUD project, what must an appraiser list first?
Flip flashcard to reveal answer
The correct answer is...
The project’s official name and the source of the project information.
Back to Question
Next card
How should special amenities such as boat slips or storage units be noted in the appraisal report?
Flip flashcard to reveal answer
Previous card
The correct answer is...
State whether each amenity is assigned, owned, unassigned, or leased, and explain its effect in the commentary section.
Next card
Back to Question
What steps must the appraiser take if the project has physical deficiencies?
Flip flashcard to reveal answer
Previous card
The correct answer is...
Identify the deficiency, describe it in detail, and attach a photograph if it’s a physical issue.
Next card
Next card
Back to Question
A project has been converted into condos, coops, or condops within the last three years. What must be recorded in the report?
Flip flashcard to reveal answer
Previous card
The correct answer is...
Note the conversion, which will show in the Project Factors table under “Converted in Past 3 Years”
Next card
Back to Question
For projects that require ground rent, what information is necessary to include in the appraisal?
Flip flashcard to reveal answer
Previous card
The correct answer is...
For projects that require ground rent, what information is necessary to include in the appraisal?
Next card
Back to Question
When does the “Incomplete Project” indicator appear in the Project Factors table?
Flip flashcard to reveal answer
Previous card
The correct answer is...
It displays whenever any phase, unit, or amenity in the project has not been fully completed
Back to Question