Unit In Place Method
Approach to valuing property based on its replacement cost. The cost of each major element of the property per square foot is added together and multiplied by the total space to estimate what it costs to rebuild the structure. Assume the cost per square foot for the following components of a building: walls - $4.50, ceilings - 1.50, floors - 2.50, other - 8.00 , total $16.50. If the total square feet are 20,000, the property's estimated value is $330,000 ($16,50x20,000).
Popular Real Estate Terms
Act of forcing an individual or business to do something against their will. It is a legitimate defense in court to reserve the effect of the compelled act. ...
That part of a roof which projects beyond the sides of the building. The eaves keep rain overflow of the sides of a building structure and seal the roof rafters. ...
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Tax credit aimed at encouraging the conservation of natural resources, as well as the development of alternative resource. ...
A triangular shaped end of a building where a double sloped roof meets at the top of the triangle. A gable begins at the eaves of a roof and terminates at the roof ridge. ...
Services provide to a parcel of land public utility companies, such as gas, water, electricity. ...
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To secure a listing by a real estate agent for a certain parcel of property. For example, a real estate broker wishes to list as many properties a possible to built an inventory of future ...
Mortgage for residential property. ...
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