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
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Removal of a tenant from a portion of a rented or leased premise. ...
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Also called a title defect. Any claim, lien, or encumbrance which, if valid, may impair the owners title to the property. This cloud does not hinder transfer of ownership on the property, ...
Decline in the credit status of a prospective homebuyer. ...
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Region or locality that assesses real estate taxes on the properties located within its borders. Frequently, the local county or city is the property taxing jurisdiction which is empowered, ...
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