Cubic Foot Factor Method
Along with the square foot factor method, this is the most widely used method for estimating comparable building costs. The cubic foot factor method requires the computation of the cubic contents of a building by multiplying the building area from the outside of the exterior walls times the height of the building. This is used by appraisers to estimate the reproduction costs of a building, For example, if the average cubic foot cost of a certain building type is $20, and the total cubic contents of the building are 5000 cubic feet, then the estimated reproduction cost of the building is $20*5000= $100,000.
Popular Real Estate Terms
An individual legally fit and able to undertake an activity or function. ...
In the real estate industry, several professional designations can be awarded to real estate professionals. These professional designations provide real estate professionals with the ...
A Construction method of using twice the number of framing members to provide additional structural strength. ...
Unfortunately, we encounter false advertising daily. False advertising refers to deceptive or misleading ads and commercials that fail to showcase a product’s or service’s ...
Series of intersecting lines dividing a map or chart into equal sections. Series of intersecting bars, wires or support as in a grating or supports in a dropped ceiling. ...
When you hear someone in real estate saying there will be a boring test, they don't mean a dull exam is coming up. What is a soil boring test? Let's find out the meaning of a boring test! ...
A statistical procedure using a body of measurable independent variables to compute an equation that successfully measures and forecasts the variance in another variable, the dependent ...
The meaning of a disclosure statement is a legal document signed by both parties, the lender and the borrower or buyer. This statement outlines the terms and conditions, the potential ...
Written proposals and acceptances applicable to the aspects of the transaction. The escrow agent must follow the purchase and sale agreement. ...
Have a question or comment?
We're here to help.