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
Those factors causing the movement of people, industry, and business from the central city to the outside central city areas, suburbs, and/or small cities. Elements of the dispersing force ...
Amount to be paid by a person or business for violating a statute or legal court order. It may also be assessed for violating the provisions of a contract. Examples of penalties are a ...
Maximum credit a prospective buyer may be given. An example is the maximum mortgage a prospective home buyer may receive from the bank. ...
Home inspector is the name the real estate industry calls the professional responsible for the close and thorough examination of a property. The home inspector usually is called upon ...
Said of property that is bought subject to the existing loan against it. ...
Occupant's right in a structure to see out of the window without being hindered. For example, if someone wants to construct an office building adjacent to a home that will significantly ...
Ownership of property transfers from the seller to the buyer when the parties sign the contract. ...
Individuals who are legally entitled to inherit money and property when someone dies. ...
Primary horizontal support for a structure such as a house. It may be a large piece of wood, stone, iron, or other material that lies across the walls, and serves as support of the ...
Have a question or comment?
We're here to help.