Vocab and Definition Chapters 4-13

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What elements must be identified by the appraiser prior to completing an assignment?
Why does Exposure Time matter?
Define an Extraordinary assumption
Define a Hypothetical Assumption
Define Market Value
Name 3 other types of value
Fee Simple Estate defined
Leasehold
Leased fee
Transferrable development rights (TDRs)
Differentiate between a condominium and a co-operative apartment
What’s a timeshare?
Scope of Work
Importance of relating the macro economics to the micro?
Keys to choosing comparable data-what needs to be similar?
In reference to Real Estate-define social forces, governmental forces, environmental forces and economic forces
How do debt and equity relate to each other in the ownership of a property?
Differentiate between primary and secondary lenders
Real Estate

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