Basic Appraisal Procedures Mckissock Exam Questions And Answers

Paired data analysis {Ans: The process of determining the value of specific property characteristics or features by comparing payers of similar properties, also called matched pair analysis.}Excess Site {Ans: Land or site area that is not necessary to support the use of the existing improvements situated on the subject property. However, it may have its own highest and best use for expansion of the current improvement or for sale for another use}Partial interest {Ans: Any interest in real estate one may have other than the full bundle of rights.}How many square miles is in a township? {Ans: 36 Square Miles, they are 6x6}Excess site {Ans: Land or site area that is not necessary to support the use of the existing improvement situation on the subject property}Going Concern Value {Ans: The market value in use of all property, including real property, trade fixtures, inventory (tangible assets), and the intangible assets of an established and operating business with an indefinite life}