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The distinction between extraordinary assumptions and hypothetical conditions can be a matter of law or professional standards in the field of real estate appraisal in the United States where the distinction is not only codified in USPAP, but enforced by various state real estate appraiser commissions or professional boards. However, the ...
The extent to which the existing improvements differ from the highest and best use as-if vacant, reveals the extent of any functional obsolescence. Further, there are three potential actions that can be undertaken regarding the existing improvements: Retention of the existing improvements, modification of the improvements or the development ...
Real estate development – Process that creates or renovates new or existing spaces; Subdivision (land) – Divided piece of land; Subsurface drainage – A system by which water is drained on; Sustainable agriculture – Farming approach that balances environmental, economic and social factors in the long term
Improvement is the process of a thing moving from one state to a state considered to be better, usually by a change or addition that improves. The concept of ...
Example of a site plan. A plot plan. A site plan or a plot plan is a type of drawing used by architects, landscape architects, urban planners, and engineers which shows existing and proposed conditions for a given area, typically a parcel of land which is to be modified.
Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others.
Home staging is the preparation of a private residence for sale in the real estate marketplace. [1] The goal of staging is to make a home appealing to the highest number of potential buyers, thereby selling a property more swiftly and for more money.