analyzing data

Question 1

What’s the purpose of the Uniform Residential Appraisal Report?

Answer 1

To provide the lender with an accurate opinion of the property’s market value

Question 2

URAR’s Required Exhibits

Each appraisal report must also include the following required exhibits:

Answer 2

Street map showing the locations of the subject property and all comparables used in the valuation process.
Exterior building sketch
Clear, descriptive photographs showing the subject property’s front, back, and street scenes, all appropriately identified.
Clear, descriptive photographs showing the front of each comparable property, all appropriately identified.
Other data

Question 3

how many sq feet are in a acre

Answer 3

43,560

Question 4

In the sales comparison approach, lenders like to see the appraiser determine a probable range of values for a property by comparing a group of comparable sales to the subject. This process is known as ______.

Answer 4

bracketing