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 1580


Appraisals are performed so that the seller and the broker can determine a fair sales price for the property.

Is this true or false ?

Take your time. the solution is posted below the wildlife photo.


A. False

Appraisals are usually performed in order to determine the market value of the property.

The market value is the most probable price that a property should bring in the open market faced with normal avenues of competition.

David Saks

Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • March 19 2012 08:45AM
Real Estate Practice : Lesson 1580
#1580 Appraisals are performed so that the seller and the broker can determine a fair sales price for the property. Is this true or false Take your time. the solution is… more
Real Estate Practice : Lesson 1579
#1579 When a comparative market analysis is prepared it uses an approach much like the method used in the income approach to appraisal. Is this fact true or false Take your… more
Real Estate Practice : Lesson 1578
#1578 An appraisal is generally considerd to be based on value according to a specific calendar and time element imposed on the various factors involved in estimating value. Is this true or… more
Real Estate Practice : Lesson 1577
#1577 A house had been appraised for the loan at $516, 000 and the sales price is $510, 000. The loan-to-value ratio is 85%. What is the eligible amount of the loan based on this… more
Real Estate Practice : Lesson 1576
#1576 If a lender wants to produce a better yield on a loan the lender may increase the loan amount by 3% which will be paid at the closing table as a charge known as an origination fee &… more
Real Estate Practice : Lesson 1575
#1575 When we talk about an adjustable rate mortgage we're talking about a loan that is adjusted in a way to increase and decrease the amount but the payment always remains the same. … more
Real Estate Practice : Lesson 1574
#1574 When a conventional loan is sought by the borrower, private mortgage insurance to protect the loan is usually not required if the loan-to-value ration of the loan is over 95%. … more
Real Estate Practice : Lesson 1573
#1573 The FHA buys and sells loan in the secondary mortgage market as well as makes loans to borrowers in the primary mortgage market. Is this fact true or false … more
Real Estate Practice : Lesson 1572
#1572 It is well known that if a borrower's credit is excellent a downpayment is not required for an FHA loan. Is this fact true or false Pleaser take your time. The… more
Real Estate Practice : Lesson 1571
#1571 A VA loan is a loan that may never be assumed by anyone other than an eligible veteran. Is this true or false Please take your time. The solution is posted below… more