Abstraction
Barron's Real Estate Dictionary:
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Abstraction
Method of estimating land value by subtracting the depreciated value of the improvements from the market price of the total property.
Example: A new home sold for $250,000. It is estimated that the home cost $175,000 to build, leaving $75,000 as the indicated value of the land, based on abstraction of market data.
Example: A new home sold for $250,000. It is estimated that the home cost $175,000 to build, leaving $75,000 as the indicated value of the land, based on abstraction of market data.
| Abstract of Title, Abstract Update | |
| Abut, Accelerate (a debt) |
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Barron's Real Estate Dictionary
Dictionary of Real Estate Terms. Copyright © 2008 by Barron's Educational Series, Inc. All rights reserved.
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