Cost Approach Error $_______________ ______ Error 1 in Sales Comparison Approach $_______________ ______ Error 2 in Sales Comparison Approach $_______________ ______ Error 3 in Sales Comparison Approach $_______________ ______ Error 4 in Sales Comparison Approach $_______________ ______ Error 5 in Sales Comparison Approach $_______________ ______ Error 6 in Sales Comparison Approach $_______________ ______ Indicated Opinion of Value – Cost Approach $_______________ ______ Indicated Opinion of Value – Sales Comparison Approach $_______________ ______ Final Indicated Opinion of Value $_______________ ______ Will you get the loan? Yes______ NO _____ ______

QUESTION

Each answer for items 1-10 is worth 4 points. Item 11 is worth 10 points. Therefore, the botched appraisal assignment is worth a total of 50 points.

DO NOT round your answers for this exercise.

DO NOT weight the sales comparison data or the approaches when finding the indicated opinion of value. Use straight averages when needed to reconcile more than one value.

Please pay attention to whether the answer is positive or negative.

Please write the correct amount for each error:

Item                                                                                                                                      Value                                    Points

1. Cost Approach Error $_______________ ______
2. Error 1 in Sales Comparison Approach $_______________ ______
3. Error 2 in Sales Comparison Approach $_______________ ______
4. Error 3 in Sales Comparison Approach $_______________ ______
5. Error 4 in Sales Comparison Approach $_______________ ______
6. Error 5 in Sales Comparison Approach $_______________ ______
7. Error 6 in Sales Comparison Approach $_______________ ______
8. Indicated Opinion of Value – Cost Approach $_______________ ______
9. Indicated Opinion of Value – Sales Comparison Approach $_______________ ______
10. Final Indicated Opinion of Value $_______________ ______
11. Will you get the loan? Yes______ NO _____ ______

TOTAL POINTS                                                                                                                   _________/50

ANSWER

Item Value Points
1. Cost Approach Error $_______ ______
2. Error 1 in Sales Comparison Approach $_______ ______
3. Error 2 in Sales Comparison Approach $_______ ______
4. Error 3 in Sales Comparison Approach $_______ ______
5. Error 4 in Sales Comparison Approach $_______ ______
6. Error 5 in Sales Comparison Approach $_______ ______
7. Error 6 in Sales Comparison Approach $_______ ______
8. Indicated Opinion of Value – Cost Approach $_______ ______
9. Indicated Opinion of Value – Sales Comparison Approach $_______ ______
10. Final Indicated Opinion of Value $_______ ______
11. Loan Approval Yes______ No______ _______

Total Points: _______/50

In this appraisal assignment, each answer for items 1-10 is worth 4 points, while item 11 is worth 10 points. The total value of the assignment is 50 points.

To calculate the points for each error, the values should be filled in based on the specific errors identified in the Cost Approach and Sales Comparison Approach. However, since the details of these errors are not provided, we cannot determine the specific values for each error at this time. Additionally, the indicated opinions of value for both the Cost Approach and Sales Comparison Approach, as well as the final indicated opinion of value, cannot be determined without the necessary information.

Regarding the loan approval, the outcome is not provided, and therefore, we cannot determine whether the loan will be approved or not.

In conclusion, without the specific values for the errors and the indicated opinions of value, as well as the loan approval outcome, it is not possible to provide a complete evaluation of the assignment or determine the total points obtained.