Estimating

Business / Construction / Estimating: The process of calculating the cost of a project. This can be a formal and exact process or a quick and imprecise process.

Unit-In-Place Method

Business / Real Estate / Unit-In-Place Method: The appraisal method of estimating building costs by calculating the costs of all of the physical components in the structure with the cost of each item including its proper installation, connection, MORE

Market-Data Approach

Business / Real Estate / Market-Data Approach: Estimating a propertys value based on a comparison of the property with similar properties in the same locale that have sold recently. Also known as the direct sales comparison approach. MORE

Quantity-Survey Method

Business / Real Estate / Quantity-Survey Method: The appraisal method of estimating building costs by calculating the cost of all of the physical components in the improvements, adding the cost to assemble them and then including the indirect costs MORE

Sales Comparison Approach

Business / Real Estate / Sales Comparison Approach: The process of estimating the value of a property by examining and comparing actual sales of comparable properties. MORE

Square-Foot Method

Business / Real Estate / Square-Foot Method: A method of estimating a buildings construction, reproduction or replacement costs, whereby the structures square-foot floor area is multiplied by an appropriate construction cost per square foot. MORE

Income Approach

Business / Real Estate / Income Approach: The process of estimating the value of an income-producing property through capitalization of the annual net income expected to be produced by the property during its remaining useful life. MORE

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