Final answer:
The correct answer is d. all of the above. Appraisals are an opinion of value, for a specific property and as of a certain date, and are based on judgment and professional experience.
Step-by-step explanation:
The correct answer is d. all of the above. Appraisals are an opinion of value, for a specific property and as of a certain date, and are based on judgment and professional experience. Let's break down each of these options:
- An opinion of value: An appraisal is an estimate of the value of a property, which is subjective and can vary depending on the appraiser.
- For a specific property and as of a certain date: Appraisals are conducted on a particular property and reflect its value at a specific point in time.
- Based on judgment and professional experience: Appraisers use their expertise and knowledge to evaluate various factors and make an informed judgment about the value of a property.
Therefore, all of the given options are true concerning appraisals.