While There Are Several Conventional Approaches Used to Estimate the Market

question 8

Multiple Choice

While there are several conventional approaches used to estimate the market value of real estate, which of the following is typically considered the most reliable approach?

• A) Income approach
• B) Sales comparison approach
• C) Cost approach
• D) Investment approach

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Definitions:

Special Warranty

A warranty in a deed that the grantor only guarantees against title defects that occurred during their ownership of the property.

General Warranty

A comprehensive guarantee that a seller gives to a buyer, covering the title and condition of property or goods.

Transfer by Deed

The act of conveying real estate ownership through a legal document known as a deed.

Deed

A legal document that represents the ownership of real property or real estate and is used to transfer title from one party to another.