This course provides an in-depth look at developing a Cost Approach for commercial appraisals. The six methods of site valuation are illustrated and explained.
Illustrations and examples are offered of the three methods of cost estimation: Comparative Unit, Unit-in-Place, and Quantity Survey Methods. Detailed cost workups will be studied using Illustrations from the Marshall & Swift Valuation Service.Then, the three methods of estimating depreciation (Age-Life, Market Extraction, and Breakdown Methods) will be examined in detail. All of these topics will be expanded through the use of helpful case studies and case problems.
There is a required three-hour comprehensive proctored examination at the conclusion of the course that must be taken in a monitored classroom setting.