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One of the more troublesome examples of the distinction between extraordinary assumptions and hypothetical conditions regards the valuation of property with proposed improvements or proposed alterations. Such examples require the understanding of and inter-relation with prospective values, retrospective values, and contemporary values.
The Appraisal Institute of Canada defines the term highest and best use as: The reasonably probable and legal use of property, that is physically possible, appropriately supported, and financially feasible, and that results in the highest value. The Appraisal Institute defines highest and best use as follows:
Uniform Standards of Professional Appraisal Practice (USPAP) can be considered the quality control standards applicable for real property, personal property, intangible assets, and business valuation appraisal analysis and reports in the United States and its territories. USPAP, as it is commonly known, was first developed in the 1980s by a ...
An after action report (or AAR) is any form of retrospective analysis on a given sequence of goal-oriented actions previously undertaken, generally by the author themselves. The two principal forms of AARs are the literary AAR, intended for recreational use, and the analytical AAR, exercised as part of a process of performance evaluation and ...
A type of value, stated as an opinion, that presumes the transfer of a property (i.e., a right of ownership or a bundle of such rights), as of a certain date, under specific conditions set forth in the definition of the term identified by the appraiser as applicable in an appraisal. Thus, the definition of value used in an appraisal or Current ...
Recall bias is of particular concern in retrospective studies that use a case-control design to investigate the etiology of a disease or psychiatric condition. [ 3 ] [ 4 ] [ 5 ] For example, in studies of risk factors for breast cancer , women who have had the disease may search their memories more thoroughly than members of the unaffected ...
An appraisal is a process used to determine the value of a home. Usually, if the homebuyer is seeking financing for the purchase, the bank or mortgage lender will require the property be appraised.
Post-mortem diagnosis is considered a research tool, and also a quality control practice [9] and it allows to evaluate the performance of the clinical case definitions. [10] The term retrospective diagnosis is also sometimes used by a clinical pathologist to describe a medical diagnosis in a person made some time after the original illness has ...