Mol?

[Mike Scannell]

I'll admit my ignorance on this one....I am doing a review where the original appraiser uses the acronym MOL where ever he references site size in acres, i.e. 0.23 AcresMOL. I don't find any reference or info on this in any of the Harrison or Appraisal Institute books I have. There is a term in mathematics.....Method of Lines....does that have anything to do with it?

MS

 

[DonRico]

More or Less.

 

[Ray Miller]

Doesn't kown the size of the acreage/lot and too damm lazy to go to the court house and pull the data. Oh, forgive me, the AMC needs it now and I don't have the time to do the necessary research called for, so I just guess at it a bit.

Same as using +/-.

Just how does the appraiser know how much to adjust for if they don't know the size of the lot or acres.

I just finished up an appraisal where the lot/acreage values for the comparables ranged from $1.27 sq.ft. up to $113.59 a sq.ft and the subject was at $64.24 a sq.ft. all on the same lake. Can sure make a lot of difference in you adjustments and value.

 

[reneeaz]

More or Less

 

[Mike Scannell]

O.K., got it. I had just assumed it would be something more "technical" or an "officially" accepted term within the appraisal profession, stupid me. I still have problem understanding why someone feels they have to +/- site sizes the county has in online
public records down to one/one-hundreths of an acre.

Makes me think there are times I could use/and reference the old "TeeLAR" method which was so popular when I was in the military...as in "That Looks About Right".

MS

 

[Jo Ann Meyer Stratton]

The symbols +/- needs to used for every site size, even if you obtain the site area from the registered land surveyor that surveyed the lot. A competent, knowledgable, honest registered land surveyor will have +/- in the legal description. Assessment personel, title companies, attorneys are not typically registered land surveyors, therefore their calculations may not be accurate.

 

[Mike Boyd]

More or Less.

The "proper" abbreviation would be M/L

 

[VolcanoLvr]

Thanks Jo Ann.

That's the way I was trained, although the explanation as to why was not as comprehensive as yours.

It's also a way for the appraiser to CYA! Precisely imprecise.

 

[DMZwerg]

O.K., got it. I had just assumed it would be something more "technical" or an "officially" accepted term within the appraisal profession, stupid me. I still have problem understanding why someone feels they have to +/- site sizes the county has in online
public records down to one/one-hundreths of an acre.

If using the acres then it would be "exact" and no +/- necessary.
If comparing sf and converting from acres then conversion is a estimate and +/- would seem warranted.

 

[Blueprint]

Never heard of More or Less or ML. Interesting to see other normal forms of communication. Used to use Apx, stemmed by my mentors requirements. Today on my own, I do not abbreviate unless I am comming with long term mates.