A licensee is using the cost approach to develop a proce opinion for a library, what calculation should be performed next ?

A. estimate the price that an investor would pay for the property

B. estimate accured loss in value from physical deterioation

C. deduct estimate depreciation from cost

D. estimate current cost of improvements

Solutions

Expert Solution

The right option is “D) Estimate current of improvement”

Explanation:

In the cost approach method the property valuation is done by estimating the price buyer will pay should be equivalent to the cost of constructing a similar building. The value of property includes the price of land plus the cost of any additional construction required to reduce the depreciation cost.

Hence, D is correct.

The right option is “D) Estimate current of improvement”

Junaid answered 1 year ago

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