David Saks: March 2012

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 1553

                                                          #1553

A home was built several years ago and was actually constructed without a functioning heat or air conditioning system.

If an appraiser were to use the cost depreciation approach he would refer to this exclusion of heat and air in the buildiong construction as external obsolescence.

Is this fact true or false ?

Take your time. The solution is posted below the royalty free wildlife photo.

wildlife

A. False

The absence of heat and air is considered functional obsolescence whicch would result in loss of value because of outdated construction or design.

External obsolescence is a loss of value which occurs as a result of factors which occur outside of property, such as a property located adjacent to an abandoned factory building.

External obsolescence may also be referred to as 'external inadequacy' or economic obsolescence'.

 




David Saks



Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.

 

Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.

 

 

 

 

"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


 

  Real Estate Crimes

 

Click "HERE" For Today's Question

 

 

TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis

WUMR

 

Support
America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 0 commentsDavid Saks • March 05 2012 08:53AM
Real Estate Practice : Lesson 1553
share
#1553 A home was built several years ago and was actually constructed without a functioning heat or air conditioning system. If an appraiser were to use the cost depreciation… more
Real Estate Practice : Lesson 1552
share
#1552 An appraiser was contacted an asked to appraise a home. There have been quite a few sales in the area due to the recent economic climate and the lowering of prices. … more
Real Estate Practice : Lesson 1551
share
#1551 If money is held before the acceptance of an offer of a sales contract for the purchase of a home, the money belongs to both the seller and the buyer. Is this true or false &… more
NEW JERSEY MAN CHARGED WITH LOAN FRAUD
share
New Jersey Man Charged with Loan Fraud U. S. Attorney’s Office March 02, 2012 Eastern District of Pennsylvania (215) 861-8200 &… more
INDICTMENT CHARGES TWO ALLEGED PARTICIPANTS IN NEW HAVEN MORTGAGE…
share
Superseding Indictment Charges Two More Alleged Participants in New Haven Mortgage Fraud Schemes U. S. Attorney’s Office March 02, 2012 District of Connecticut (203) 821-3700 &… more
HOMEBUILDER INDICTED IN $14. 7 MILLION CONSTRUCTION INVESTMENT FRAUD…
share
Homebuilder Indicted in $14. 7 Million Construction Investment Scheme U. S. Attorney’s Office March 01, 2012 District of Maryland (410) 209-4800 … more
MORTGAGE RESCUE SWINDLER GETS FIVE YEARS IN THE SLAMMER - TARGETED…
share
Phoenix Man Sentenced to 60 Months in Prison for Mortgage Rescue Fraud Targeting Hispanic Homeowners U. S. Attorney’s Office March 01, 2012 District of Arizona (602) 514-7500 &… more
70 YEAR OLD REAL ESTATE AGENT NETS JAIL TIME FOR FRAUD
share
70-Year-Old Tuscon Real Estate Agent Sentenced to Prison for Mortgage Fraud U. S. Attorney’s Office March 01, 2012 District of Arizona (602) 514-7500 .. more
THREE SOUTH FLORIDA MEN SENTENCED IN $9 MILLION MORTGAGE FRAUD SCHEME
share
Three South Florida Men Sentenced in $9 Million Mortgage Fraud Scheme U. S. Attorney’s Office February 29, 2012 Southern District of Florida (313) 226-9100 .. more