1. What are the eight steps in the appraisal process?
2. What are the four steps in the Highest and Best Use Analysis?
3. What is the difference between market value and investment value?
4. What is matched-pair analysis?
5. Name three types of depreciation.
6. A building is 10 years old and has an economic life is 30 years. The cost new is 5000 per square meter. What is the effective rate?
7. What is functional obsolescence?
8. What is external obsolescence?
9. Can a new building suffer from functional obsolescence?
10. Calculate the value of the subject property under the cost approach:
Land value: 1,000,000
Building size: 800 square meters
Building cost new: 4,000 SAR per square meter.
Estimated economic life: 40 years
Building age: 8 years
11. What do you do if the highest and best use as improved is different than the highest and best use as vacant?
12. If a property is superior to the subject, what kind of adjustment do you make to the sale price?
13. Can a property with a building ever be worth less than just the land?
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