Reference no: EM132413446
Assessment Activity -
Q1. Property B: 8c Saxon Street Mill Town is described in attachment 6.
a) Explain why it might be suitable to appraise Property B by using the CMA method.
b) Explain why it might be suitable to appraise Property B by using the Capitalisation of Income method.
Q2. Refer to the attachments 1, 2, 3 & 4 showing recent sales and properties currently on the market, and prepare a CMA for Property B using attachment 8.
In your CMA, include as comparisons:
- 5 recent sales.
- 5 properties currently on the market.
Recommend an asking price or price range for Property B in your CMA appraisal.
Q3. Explain how you reached your suggested asking price for Property B by explaining why you selected the properties that you included in your CMA and how they compare with Property B.
Q4. Appraise Property B using the Capitalisation of income method.
Rental incomes applicable to properties in the area are included with the information for Property B, attachment 6.
Specify an appraised value for Property B based on your calculations.
Q5. a) Combine results from your CMA appraisal and capitalisation of income appraisal and recommend a price range for marketing Property B.
b) Explain how you reached the recommended price range for Property B.
Follow these steps:
1. Calculate the return (capitalisation rate) %for each of the sample properties using the table in your assessment.
2. Calculate the average return % for the sample properties.
3. Apply the average return rate % to the subject property.
Attachment:- Assignment File.rar
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