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Precise sales are often not obtainable as a means to find out what buyers are paying for a similar lot and so market abstraction (additionally called extraction) is used to estimate the ratio of land value to dwelling worth from market sales of already constructed homes.
It goes over how much debt the property has connected to it and whether or not the property has a mortgage debt or a lien debt associated with it. It additionally outlines the acquisition worth of the property and how that purchase price can now be used to pay off any and all debt associated with the property.
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