Respuesta :
The statement of the property value appraises or estimates the market value of the home.
Correct response:
- A. Appraisal
Reasons
A statement of a property value is a document that details the worth of a
property.
It is a prerequisite to provide an estimate of a property such as a real
estate, during taxation, financing or sales listing.
The process of developing an idea of the market value of a house or real estate is known as land valuation, property valuation, or real estate appraisal.
Therefore, the term that refers to the cost associated with getting a statement of the property value when buying a home is option A. Appraisal
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The correct option for the given statement is Appraisal
Appraisal refers to the cost associated with getting a statement of the property value when buying a home.
What is appraisal?
- An appraisal is a professional examination of real or personal property to determine its market value.
- An appraisal is an unbiased professional opinion of a home's value and is used whenever a mortgage is involved in buying, refinancing, or selling that property.
- The authorized appraiser must have a designation from a regulatory body governing the jurisdiction of the appraiser.
- Appraisals are typically used for insurance and taxation purposes or to determine a possible selling price for an item or property.
From the above definitions it is clear that Appraisal is known as the cost associated with getting a statement of the property value when buying a home. Hence the correct option is (A) Appraisal.
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