The "utility" of the land, the "condition" of the buildings or other structures on it, and the "bundle of rights" associated with it all have an influence on an appraiser's final evaluation of a property. The original price of the property has no effect on its current worth.
These are questions that the above text answers:
1. What factors affect a property's worth in real estate appraisal?
2. How does the condition of buildings or structures on a property influence its appraisal value?
3. What is the significance of the "bundle of rights" in determining a property's worth?
4. What is the role of the land's utility in the appraisal process?
5. How does an appraiser evaluate the condition of buildings or structures on a property?
6. What are the factors that an appraiser considers when determining the worth of a property?