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
part of the Department of Housing and Urban Development (HUD), which sees that complete disclosures are made for land sales. ...
Professional certification granted by the Institute of Real Estate Management, an affiliate of the National Association of Realtors. ...
When you sign a Listing Agreement with a real estate broker or agent, he or she has a fiduciary responsibility to represent your interests exclusively. However, should another client ...
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Individual who attempts to maximize his or her profitability by investing which the anticipation that a particular investment will go up in value. A speculator will generally be willing to ...
Ability of the size of the land to accommodate the desired economic purpose. An example is having enough space to build a supermarket to meet the needs of the community. ...
Owner-occupied housing. ...
revising the terms of a loan such as when the borrower is experiencing severe financial difficulties. For example, a homeowner lost his job and seeks relief by requesting the lender ...
The real and personal assets of a person at the date of death. The distribution of the assets to the heirs depends on the provision of the will. If no will exists, the distribution is based ...
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