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| Teaching Since: | May 2017 |
| Last Sign in: | 356 Weeks Ago, 3 Days Ago |
| Questions Answered: | 20103 |
| Tutorials Posted: | 20155 |
MBA, PHD
Phoniex
Jul-2007 - Jun-2012
Corportae Manager
ChevronTexaco Corporation
Feb-2009 - Nov-2016
Question description
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Chapter one explains  the history of appraisal, appraisal practice, appraisal purposes and uses as well as the appraisal field's relationship to Real Estate Financing. According to the lesson the last major financial crisis in real estate was the savings & loan crisis of the 1980s.
Appraisal is defined as "an opinion of value". Appraisals are important for the real estate industry and the industry stakeholders, i.e. buyers, sellers, agents, brokers, investors, lenders, borrowers and others. In your opinion what would the situation be if the appraisal industry did not exist?
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