Humber/Ontario Real Estate Course 2 Exam Practice

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Which of the following is NOT typically included in a standard form appraisal report?

  1. Detailed floor plans

  2. Income approach value

  3. Market data approach

  4. Cost approach value

  5. Comparable sales data

  6. Neighborhood analysis

The correct answer is: Detailed floor plans

A detailed floor plan is NOT typically included in a standard form appraisal report. An appraisal report includes various approaches to determine the value of a property, such as the income approach, market data approach, and cost approach. Comparable sales data is essential for determining the property's value by comparing it to similar properties that have recently sold. Additionally, a neighborhood analysis provides important context about the surrounding area's influence on the property's value. While detailed floor plans may be beneficial for understanding the property's layout, they are not a standard inclusion in an appraisal report.

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