The Student Handbook toTHE APPRAISAL OF REAL ESTATE

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Chapter 11

Improvement Analysis

Student Handbook to THE APPRAISAL OF REAL ESTATEChapter 11 2

Property Inspection

Depends on nature of assignment Cause of litigation when the purpose of the

appraiser’s property inspection is misunderstood

Student Handbook to THE APPRAISAL OF REAL ESTATE

Building Description

Elements of a building description Use classification and building codes Size Format

Chapter 11 3

Student Handbook to THE APPRAISAL OF REAL ESTATEChapter 11 4

Exterior Description

Substructure Superstructure

Framing Insulation and ventilation Exterior walls and doors Windows, storm windows, and screens Façade Roofing and drainage systems Chimneys, stacks, and vents

Student Handbook to THE APPRAISAL OF REAL ESTATEChapter 11 5

Interior Description

Interior walls, partitions, and doors Interior supports

Beam columns and trusses Flooring systems Ceilings

Stairs, ramps, elevators, escalators, and hoists Painting, decorating, and finishing Protection against decay and insect damage Miscellaneous and special features

Student Handbook to THE APPRAISAL OF REAL ESTATEChapter 11 6

Equipment and Mechanical Systems

Plumbing systems Heating and cooling systems Electrical systems Miscellaneous equipment

Student Handbook to THE APPRAISAL OF REAL ESTATEChapter 11 7

Analysis of Architectural Style and Functional Utility

Architectural style Functional utility

Student Handbook to THE APPRAISAL OF REAL ESTATEChapter 11 8

Analysis of Architectural Style and Functional Utility, continued

Design and functional utility by property type Residential Commercial Industrial Agricultural buildings Special-purpose buildings Mixed-use buildings

Student Handbook to THE APPRAISAL OF REAL ESTATE

Quality and Condition Survey*

Items in need of immediate repair Short-lived items Long-lived items

Chapter 11 9

Student Handbook to THE APPRAISAL OF REAL ESTATEChapter 11 10

Measuring Buildings*

Common measurements Gross living area (GLA) Gross building area (GBA) Gross leasable area (GLA)