ADMS 3810 Lecture Notes - Lecture 4: Comparables, The Appraisal Foundation, Effective Demand

• School: York University
• Department: Administrative Studies
• Course: ADMS 3810
• Professor: unknown

Document Summary

It is based on the analysis of facts but is itself an opinion. The appraisal is of a specific property as of a specific date. The appraisal profession in canada is governed by the canadian uniform. Standards of appraisal practice (cuspap) which has been adopted by the. Appraisal foundation made up of the various appraisal institutes in canada and. These regulations constitute both a code of ethics and standards of practice under which appraisers should operate. Real property values are affected by four characteristics: utility a need. The ability of a good or service in this case real property to satisfy: scarcity. Relative availability of a particular good or commodity. In order for real property to have value, effective demand: transferability or convey his property right to another. The absence of legal constraints on the owner"s right to sell. In general, four primary forces exist that influence real estate values: physical-environmental drainage, contour, topography, vegetation, accessibility, utilities, climate and view.