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Cost approach
Cost approach The process of estimating the value of a property by adding to the estimated land value.
RELATED TERMS--------------------------------------
Value
The measure of the monetary equivalent of a property. The four essential elements of value are utility, scarcity, demand and transferability.
Property
The rights of ownership. The right to use, possess, enjoy, and dispose of a thing in every legal way and to exclude everyone else from interfering with these rights.
Land
The earth's surface, extending downward to the center of the earth and upward infinitely into space, including things permanently attached by nature, such as trees and water.
SIMILAR TERMS--------------------------------------
Cost basis
Accounting figure that includes original cost of property plus certain expenses to purchase, money spent on permanent improvements and other costs, minus any depreciation claimed on tax returns over the years.
Cost of deposit index (CODI)
The Cost of Deposit Index (CODI) is one of several indexes commonly used to set the adjustment amount of an adjustable rate mortgage (ARM).
Cost of funds index (COFI)
One of the indexes that is used to determine interest rate changes for certain adjustable-rate mortgages. It represents the weighted-average cost of savings, borrowings, and advances of the financial institutions such as banks and savings and loans, in the 11th District of the Federal Home Loan Bank.
Cost plus contract
A building contract setting the builder's profit at a set percentage of actual cost of labor and materials.
Cost recovery
An Internal Revenue Service term for depreciation.
Cost-approach improvement value
The current cost to construct a reproduction of, or replacement for, the existing structure less an estimate for accrued depreciation
Cost-approach land value
The estimated value of the fee simple interest in the land as if vacant and available for development to its highest and best use
Cost-of-sale percentage
An estimate of the costs to sell an investment representing brokerage commissions, closing costs, fees and other necessary disposition expenses
Cost-plus
A method of paying construction contractors when the contractor is paid the actual costs of the job plus a percentage for profit.
Cost-plus contract
An agreement in which a construction contractor receives a fee based on a percentage of all costs paid for labor and materials.
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Correlative water rights
A modern law in some states that holds that a riparian owner who has rights in a common water source is entitled to take only a reasonable amount of the total supply for the beneficial use of land (such as irragation).
Correspondent
A mortgage banker.
Corrosion
The dissolving and wearing away of metal caused by a chemical reaction such as between water and the lead pipes or solder in a home's plumbing.
Corrosive
A substance that eats or wears away materials gradually by chemical action.
Co-signers
Additional signers of a financial agreement that add their personal guarantees to that of the borrower.
Cost approach
Cost basis
Accounting figure that includes original cost of property plus certain expenses to purchase, money spent on permanent improvements and other costs, minus any depreciation claimed on tax returns over the years.
Cost of deposit index (CODI)
The Cost of Deposit Index (CODI) is one of several indexes commonly used to set the adjustment amount of an adjustable rate mortgage (ARM).
Cost of funds index (COFI)
One of the indexes that is used to determine interest rate changes for certain adjustable-rate mortgages. It represents the weighted-average cost of savings, borrowings, and advances of the financial institutions such as banks and savings and loans, in the 11th District of the Federal Home Loan Bank.
Cost plus contract
A building contract setting the builder's profit at a set percentage of actual cost of labor and materials.
Cost recovery
An Internal Revenue Service term for depreciation.
This dictionary contains 6433 terms. |
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