Caligirl
Senior Member
- Joined
- Jan 27, 2006
- Professional Status
- Certified General Appraiser
- State
- California
Its against the Law if you do not use the Cost Approach? Its sounds like the reviewer is probaly an underwriter. It should be against the law to develop the Cost Approach on a house over 10 years+/- years old. Depreciation cannot be accurately measured and the numbers are misleading.
If I've understood correctly, it is quite possibly the most absurd thing I've heard.

Show us where it is, in the law books....
This has a link to some cases re: Cost Approach
http://ourappraisal.blogspot.com/2006/05/cost-approach-appraiser-compliance.html
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