There are a variety of disciplines that address various aspects of the real estate valuation problem, including land planning, accounting, and business consulting. This chapter focuses on the appraisal model, since it is most widely accepted and understood in the U.S., particularly by the courts. However, while noting that there are other ways of viewing the problem of estimating damages to real estate that are outside the scope of the appraisal process, this chapter will focus on appraisal as the paradigm of choice.
Authors: Ronald Throupe, John A. Kilpatrick, Bill Mundy, and Will Spiess
Originally published as Chapter 6 in When Bad Things Happen to Good Property, Robert A. Simons, ed. (2005)