SwampFox
Junior Member
- Joined
- Nov 7, 2008
- Professional Status
- Certified Residential Appraiser
- State
- South Carolina
Working on an assignment for a general contractor who needs an appraisal showing only the depreciated cost of improvements for a property he's about to do a major renovation on. Per local rules, the renovation budget can't be greater than 50% of the depreciated cost of improvments so he needs something to show the town what what that figure is. I'm completing a report on a GP form for him and only completing the cost approach since that's all he needs so the final number is not going to be a market value figure.
Anyone know a good definition of value to use here (with a citable source)?
Anyone know a good definition of value to use here (with a citable source)?