CPPDSM4003A Appraise Property

1.       A valuer provides formal valuations that estimate the market value of a

1. property, usually an absolute figure:-

1. 2. Appraisals for properties for sale may assist in:

1. a. helping a potential vendor to identify possible improvements that

1. will enhance the sale process

1. b. guiding the vendor’s decision on the price that will be put to the

1. market if selling by private treaty

1. c. providing the vendor with informed advice on the price range and

1. potential reserve price if selling by auction

1. d. all of the above

1. 3. A comparative market analysis should compare at least:-

1. a. 4 properties of similar standard or condition sold over the past 2

1. years b. 3 properties of similar standard or condition, sold within a 5-

1. kilometre radius in the previous six months c. 1 similar property sold within a 100-kilometre radius in the last 3 months.

1.

1. 4. Where can you source information to assist in the analysis of market

1. conditions and property values?:-

1. 5. To analyse the characteristics of a local population, agents should look at:

1. a. demographics - age and sex ratios

1. b. social patterns - marital status and number of children

1. c. mobility of community - number of cars per household

d. property acquisition and renting patterns - number of renters

compared with owner-occupiers repayments on mortgages, housing affordability average income.

e. All of the above

 6. Property zoning types include:-

a.  residential

b. rural

c. commercial

d. industrial

e. all of the above

f. a and b only

 

7. When appraising a property for a potential listing, should an agent

establish the title and property rights?:-

a. yes

b. no

8. Easements are:-

a. the rights held by one person to make use of the land of another

b. easy access to the property

c. subdivision of land

9. To prepare an appraisal report for a client, an agent must collect:-

a. relevant market condition data

b. analysis of comparable sales/rental information

c. and have formed an opinion of value

d. all of the above

10. Is it a requirement for an agent to keep all records of calculations and

estimates relating to property appraisals and to maintain back-up files?:-

a. yes

b. no

11. Should the client authorise and sign-off on all advertising, promotional

copy and photographs before publication?:-

a. yes

b. no

A client who is transferring to your local area from interstate has approached you.

She is seeking accommodation for a family of five (parents and three children -

two of primary school age and the third in early high school).

The posting is for three years and the family has income and assets which mean

they could purchase a house or other residential accommodation for up to

$500,000*.The preferred option is to purchase in the area and resell in three years.Using information available in the learner resources or any other source of information available to you, write a report (at least 1 page) to the client outlining the options for purchase and rental of a suitable property in the local

 

area, given the family needs for schooling.

In the report, you should provide the following information to assist your client

Assessment T ask 4

Produce an information kit for a defined area (provincial town, suburban area,

central business district of a city, etc.).The kit should provide the following information:

an overview of the type of properties within the given area an analysis of demand in the given area - present situation and trends a summary of the state of the market and the trend over the coming months an analysis of the opportunities available for investment in the area and the

factors which will affect returns on different types of property including rental prices, rates, costs of maintaining property examples of property types to illustrate your analysis. The kit should have a purpose. Suggestions include: send it out to a group of potential investor leave it in the agency for customers to pick up send it to new residents in the area or as a direct response to a customer enquiry.