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The purpose of this course is to expose you to the procedures and analysis involved in developing the Cost Approach in a residential appraisal assignment. Specifically, this course will provide a complete review of the Cost Approach to value, first defining concepts and key terms, and then going into exact procedures involved. Site valuation, a key component of the Cost Approach, will be explained in detail, as well as use of various methods available to calculate “cost new” of the improvements. Through a variety of examples and activities you will be able to apply your knowledge of the Cost Approach. Finally, we will discuss the reconciliation of the Cost Approach estimate of value with the other approaches.
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