Asked by Sandersroa, Lake Villa, IL • Tue Jun 23, 2009
Questioning recent appraisal using cost approach. In 2006 the cost per sq foot on our appraisal to purchase the home was $100/sqft. We recently got an appraisal and it has the cost per sq foot to be $85/sqft. Surprised to see a 15% reduction in cost. I don't think the material or labor costs have gone down. Where does this number come from? How can I get to the truth?
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