Vocab and Definition Chapters 4-13

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In your own words (Word Doc) :

What elements must be identified by the appraiser prior to completing an assignment?

Why does Exposure Time matter?

Define an Extraordinary assumption

Define a Hypothetical Assumption

Define Market Value

Name 3 other types of value

Fee Simple Estate defined

Leasehold

Leased fee

Transferrable development rights (TDRs)

Differentiate between a condominium and a co-operative apartment

What's a timeshare?

Scope of Work

Importance of relating the macro economics to the micro?

Keys to choosing comparable data-what needs to be similar?

In reference to Real Estate-define social forces, governmental forces, environmental forces and economic forces

How do debt and equity relate to each other in the ownership of a property?

Differentiate between primary and secondary lenders