Definition of "Substitution"

Babette A. Bodie, P.A. real estate agent
Babette A. Bodie, P.A., Real Estate Agent Coldwell Banker Residential Real Estate - Tampa Westshore

In valuing real estate, substitution is the principle that the market value of a property can be relatively accurately estimated by determining market value of similar properties in the general vicinity. Thus, by substitution, an appraiser can ascertain the market value of a piece of comparable units in the neighborhood sold in the recent past.

 

Need help from a real estate agent?


Buy Sell Rent

I agree to receive FREE real estate advice.

Are you a realtor and want to become a member?


Residential Rental Commercial

I agree to receive FREE real estate advice.

Have a question or comment? We're here to help.

 

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Popular Real Estate Questions