Appraising a private property for compliance with the FEMA 50% Rule involves extracting land value from the total property value, estimating the cost of site improvements and other structures, and assessing physical depreciation to determine the actual cash value of the non-conforming structure.
Appraisers have to use different processes and approaches depending on the situation. It’s important to be aware of all these methods and make sure that the best approach is taken for each particular case.
Ultimately, an accurate appraisal will help you make informed decisions about your property and ensure compliance with the FEMA 50% Rule.
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