While writing an appraisal report based on the cost approach, an appraiser referred to "replacement cost new". This is the present cost of replacing the subject improvement with another that
A) has the same function and utility
B) uses the same or highly similar materials
C) was built on a similar lot
D) was built in the same year as the subject property
Answer: A) has the same function and utility
You might also like to view...
A person moved into an abandoned farm house, modernized it, began to raise crops, notifies the true owner of her recent possession and refused to leave the property. She paid the property tax and stayed there seven years. Is there any chance that this person could claim legal title to the farm by adverse possession?
A. Yes, because her use was continuous, open, hostile and exclusive. B. Yes, because she modernized the house. C. No, because farm land cannot be acquired through adverse possession. D. No, because a notified owner may never lose title to property though adverse possession.
What are the two categories of social media data?
What will be an ideal response?