Exam (elaborations)
Basic Appraisal Procedures Dec 2023 Questions and Answers
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Site - Land that is improved so that it is ready to be used for a specific purpose Separate Site Valuations - Cost approach Assessments and taxation Condemnation appraisals Certain income capitalization methods Highest and best use analysis Cost Approach (summation approach) - Site Value + Depreciation Depreciation - Cost New SALES COMPARISON - Comparison with recent sales--Most Commonly Used--Most Accurate-- Must have adequate market data--adjustments to the comparable sales may be made either on a quantitative or qualitative basis--Quantitative adjustments are usually made on a percentage or dollar basis. EXTRACTION - Subtracts estimated improvement value to arrive at land value
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Basic appraisal procedures
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basic appraisal procedures
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