This course includes broad issues and describes the procedures for measuring the total square footage of detached single-family homes and multifamily gross building areas. The methods employed will standardize the calculation process and enable the users of this information to obtain accurate and reproducible measurements for total gross living area of residential properties. The student will learn how to treat the finished areas above and below grade, finished living area above the garage, and the unfinished areas within the structure. The standard will allow individuals and organizations to agree and cooperate in communicating these square footage quantities to users for this information. It includes the following lessons: American National Standard for Single-Family Residential Buildings Measurement and Calculation Appraisal Values The Appraisal Process Uniform Standards of Professional Appraisal Practice Valuation Analysis Summary and Other Guidelines Critical Thinking Questions and Case Studies
Upon completion of this course, the student will be able to:
- Define the American National Standard for Single-Family Residential Buildings (ANSI) and associated definitions
- Understand the scope and purpose of the ANSI
- Employ the calculation and measurement of square footage
- Comprehend the Statement of Finished Square Footage
- Calculate and measure estimated gross living area according to floor plans
- Identify the different values associated with real property, namely market value
-Determine the forces affecting market value
- Apply the appraisal process with regards to the Bundle of Rights and the appraisal process flow chart
- Define the Uniform Standards of Professional Appraisal Practice (USPAP) and various rules that accompany the USPAP
- Identify the components of valuation analysis
- Understand a summary of the course and guidelines used for the estimation of the gross living area
Estimating the Gross Living Area - Indiana Real Estate Commission
End of Course Instructions
Once you have completed this continuing education course you return to your student profile page where your Certificate of Completion is available for printing. Please keep a copy of your certificate for your own records.
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