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RE Financing Ch.9 Qualifying the Property Quick key terms
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Appraisal
estimated value
Apprasier
estimates value
Market value
current value
Loan-to-value ratio (LTV)
relationship of loan amount and either sales price or appraised value
Sales comparison method
appraisal sales price of comparables
Subject property
property being appraised
Comparables
comparables to subject
Competitive market analysis (CMA)
real estate agent's estimated value
Normal conditions of sale
unrelated parties, knowledge of defects, willing, open market
Replacement cost method
cost of replacement minus depreciation add value of land
-compare to comparables
Replacement cost
cost of construction to similar property
Reproduction cost
cost of replica of property
Depreciation
loss in value
Physical deterioration
wear and tear depreciation
Functional obsolescence
poor design depreciation
External obsolescence
outside factors depreciation
Income method
rental value
Gross income multiplier method
rental appraisal method
Economic retn
current market rent
Contract rent
noncurrent market rent
Reconciliation
final appraisal value estimate
Low appraisal
value is lower
Request for reconsideration of value
agent to lender re-valuation request of property
Author
Blue2xa88
ID
321595
Card Set
RE Financing Ch.9 Qualifying the Property Quick key terms
Description
qualifying the property key terms
Updated
2016-07-01T22:52:18Z
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