Unit II: Real Property Appraisal

Unit II - Real Property Appraisal (18 hours) Course Description • Appraisal of real property consists of three (3) approaches to achieve market value regardless of mass appraisals or fee appraisals • Unit II covers the theory and techniques of estimating value by both the cost and sales comparison approach. • The course is one of two courses for Oklahoma Initial Accreditation. • It is designed to meet the statutory requirements for accreditation for elected Assessors, First Deputies, and all personnel involved in the appraisal of property. • Successful completion will allow students to apply the Cost and Sales approaches to value in their respective counties. Learning Goals / Objectives Upon completion of the course, learners will: 1) Learn how to discover and locate real property using various parcel locational systems and maps 2) This course covers land valuation to include five different methods of valuation 3) The cost approach is treated in depth including the estimation of depreciation. 4) Students will learn practical applications of valuation of various types of real property using the sales comparison approach to value.