The process of determining an opinion of value by a licensed appraiser, which is used by a lender to determine the amount to be loaned for the purchase price, is:
a. The discounted cash-flow method
b. The neighborhood method
c. The replacement-cost-less-depreciation method
d. An appraisal
Question 2
When a broker represents both buyer and seller in the same transaction, this is known as:
a. Dual agency
b. Split agency
c. Divided agency
d. Dual brokerage