An appraiser need to calculate the below points to determine the reproduction cost when using the square-foot method
This refers to a professional that determines the market value of an asset, notably in the real estate industry and he is is expected to act independently of the buying and selling parties in a transaction.
The determination of reproduction cost that means an expense involved with identically reproducing an asset or property with the same materials and specifications as an insured property based on current prices will be calculated by the point given above.
By the use of the given points, the appraiser will use that cost data to create the estimate and if no such comparable data is available, the appraiser should use the basic construction prices from a cost manual.
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