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Appraisal Emulation Model

The appraisal emulation model that follows the steps that an appraiser might follow in forming a value estimate (although not with the same insight or flexibility that a qualified appraiser brings to the assignment). The model selects comparable sales using some standard criteria. It then rates those comparable sales by suitability, based on the physical and sales characteristics of each comparable sale, by adjusting the varying elements (much as is done on an appraisal form); the model then calculates an estimate of value.