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Florida Real Estate Exam

Category - Florida

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In appraising a home, one of the factors which would affect the appraised value is:

The number of square feet in the structure
The owner’s book value or cost basis
The current financing on the property
None of the above

Explanation

Answer A - In appraising by the “cost” method, square footage is very important. In appraising by the “comparison” method, the comparisons used should be of the same approximate size (square footage).

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