Appraisal By Summation
Appraisal by summation is an Alias for Replacement Cost A.K.A. Cost Approach, which is one of the approaches an Appraiser can go through in order to assign a Market Value to a property as a product of his/her Appraisal.
If you don’t want to click on the links for more detailed information regarding the Appraisal by summation replacement cost approach, here’s the “too long; didn’t read” version: Appraisal by summation is a method of setting a market value for a property by calculating the amount of money it would take to build from ground up - with the same materials and specifications - a new identical property on the exact location.
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