These two long-winded, tongue-twisting, and often misunderstood terms are responsible for many debates among appraisers and even more questions from the general public.
Read MoreWhat is the first step in the appraisal process? Depending on who you ask, you may get a variety of answers, such as: inspecting the site and improvements, collecting public data about the subject property, searching for sales, or even – getting paid.
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