ESTIMATING VALUE
D.U.S.T
What are the elements of value of Demand, Utility, Scarcity and Transferability?
LTV
What is loan to value?
Mortgage or Deed of Trust
What is an instrument that secures a promise to repay a debt?
Sales comparison market data approach
What is the best way to value resale residential and vacant land?
What are the four unities required to creat a joint tenancy?
Highest and best Use
What is the most profitable use of the property that is physically possible, legal, financially feasible and most productive?
Equity
What is difference between FMV of a property and the total of the loans against it?
Acceleration Clause
What is an element in the note that accelerates the due date of the entire loan balance?
Uncle IRV
What is the formula used in the Income Approach (Capitalization of Income) for valuing income producing properties?
Joint Tenancy
What is ownership by tow or more people with right of survivorship?
What is principle of value of increasing and diminishing returns?
Regulation Z
Laws that limit the interest rates lenders can charge borrowers
Loss of value for any reason
What is depreciation?
Tenant's interest in the tenancy goes to any heirs
What is tenants in common?
Four forces influencing value.
What is physical, economic, social and political?
TRID
What is the truth in lending, RESPA integrated disclosure?
Pledging property as security for a loan or obligation without give up possession of it
What is hypothecation?
Reconciliation of Value
What is the act of analyzing and weighting the results of the three approaches?
Sole owner in a property
What is ownership in severalty?
May not be used as an appraisal in a "federally related transaction.
What is a BPO (Broker Price Opinion)?
Conventional loan
What is any loan that is not government insured or guaranteed?
Foreclosure remedy for a deed of trust
Straight line depreciation
What is when depreciation is assumed to occur at an even rate over a structure's estimated economic life?
Property acquired during the marriage
What is community property?