easy2pass seminar Flashcards
1
Q
Estimate is good for:
A
one day
2
Q
who does an appraisal
A
someone competent
3
Q
2 definitions of value
A
utility and market value
4
Q
utility value
A
subjective value, ideal value
5
Q
market value
A
what the market is willing to pay
6
Q
4 elements that influence value
A
most, important, least, order of importance: DUST - Demand, Utility, Scarcity, Transferability
7
Q
Most important influence value
A
Utility
8
Q
Utility
A
has a use, value is highest and best use
9
Q
cost and price mean:
A
the same
10
Q
appraised value
A
report of a competent appraiser
