Ch 12

Yadire Mendoza

Ch. 12

1. The two broad concepts of real estate are value in use and value in purchase. F-value in use and value in exchange. Pg.366

2. There are two kinds of appraisers, commercial and residential. T-pg.367

3. According to many appraisers two types of human constructions are found on sites: improvements on the land and improvements to the land. T-pg.371

4. The income approach technique requires an estimate of the market value of the land. F- cost approach pg.372

5. In the cost approach technique depreciation is deducted from the estimate of value. T-pg.373

6. The prescriptive appraisal process that directs appraisers to thorough, systematic approach is called:

a. Normative –pg.385

b. Heuristics

c. Regency

d. None of the above

7. When appraisers are appraising in a market area familiar to them they tend to not do which of the following:

a. Conform

b. Anchor –pg.387

c. Administer

d. All of the above

8. Which of the following are the roles that attorneys play to optimize their clients interest:

a. Technician, negotiator, adviser, and counselor pg.393-395

b. Counselor, adviser, teacher, protector

c. Adviser, psychiatrist, teacher, negotiator

d. None of the above