sammiboii
Freshman Member
- Joined
- Sep 6, 2007
- Professional Status
- Certified Residential Appraiser
- State
- North Carolina
I have been appraising since 2002 and certified since 06. I have been taught that you look at Marshall and Swift for the figures to utilize in the Cost Approach and it is what it is. It could be higher than market value or lower.
I am now being told by someone that the Cost Approach should always come out higher than the Market Approach. Why does it have to come higher? We rely on Marshall and Swift and if that's what they're saying and that's their job (which is the recognized industry standard) then am I missing something?
For now I am doing appraisals my way, using Marshall and Swift. I don't see the reasoning behind what this other appraiser is saying.
HELP!!!!
Sam
I am now being told by someone that the Cost Approach should always come out higher than the Market Approach. Why does it have to come higher? We rely on Marshall and Swift and if that's what they're saying and that's their job (which is the recognized industry standard) then am I missing something?
For now I am doing appraisals my way, using Marshall and Swift. I don't see the reasoning behind what this other appraiser is saying.
HELP!!!!
Sam