10 Questions
What does real estate appraisal assess?
Property value based on facts
Which principle relates to the reasonable, probable, and financially feasible use of property?
Highest and Best Use
What is considered when assessing the value of land?
Proximity to schools and malls
What increases the value of land?
Development of the land
What serves as proof of land ownership?
Title deed
What is a machine in the context of real estate?
Device that operates and produces outputs
What is High and Best Use mainly used for in decision making?
Guiding investment and operational decisions
Which factor affects the value of land based on its nature?
Land classification
What is the main purpose of real estate appraisal?
Assessing the current value based on facts
Which component is not considered as part of a property's value computation?
Time of year
Test your knowledge on factors that affect the market value of a property, such as utilities, physical attributes, and time. Learn about how added features and structures can enhance a property's value.
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