Property Appraisals

To understand the current market value

To save time and money (correct)

To ensure compliance with the Estate Agents Act 1980

To prepare for a valuation

When tenants in common change share holdings (correct)

When conducting a property inspection

When determining listing price for a property

When asking for an initial conversation

An appraisal provides a value based on the current market, while a valuation is a legally binding report.

An appraisal is conducted by a real estate agent, while a valuation is conducted by a registered practitioner with a university degree.

An appraisal is used for determining listing price, while a valuation covers more detail than an appraisal. (correct)

An appraisal is formed based on the Estate Agents Act 1980, while a valuation is required for specific cases like property settlements and public trustee sales.

<p>A registered practitioner with a university degree</p> Signup and view all the answers

<p>It dictates how appraisals are to be formed and presented in Victoria</p> Signup and view all the answers