The "replacement cost" of a property can be estimated using the "comparative method", which uses a costing service to provide an approximate price based on the quality and location of the property.
These are questions that the above text answers:
1. How can the "replacement cost" of a property be estimated?
2. What is the "comparative method" used for in real estate?
3. What does the "comparative method" rely on to estimate the replacement cost of a property?
4. What factors are considered when estimating the replacement cost of a property using the comparative method?
5. What is the purpose of using a costing service in the comparative method?
6. How does the comparative method determine the approximate price of a property?
7. What role does the quality of a property play in estimating its replacement cost using the comparative method?
8. How does the location of a property affect its estimated replacement cost using the comparative method?
9. What is the benefit of estimating the replacement cost of a property using the comparative method?