This course introduces the elements, terminology, and principles of real estate appraisal. The three approaches to value, as well as the forces that influence them are explored in some detail.
Practical exercises will allow the student to apply each approach to real-life situations.
Upon completion of this course, the student will be able to do the following:
Generalize the role of the appraiser and the appraisal in a real estate transaction.
Evaluate the forces at work in the marketplace as they affect appraisals.
Apply the principles of appraisal to understand an appraisal report.
Classify the six types of value.
Use all applicable approaches to value when pricing various types of properties.
This course does contain numerous exercises and is completed with a comprehensive multiple choice final exam.