I
- Improved Land
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Any parcel of land that has been changed from its natural state through the creation of roads, buildings or other structures.
- Improvement Ratio
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The comparative value of an improved piece of land to its natural, unaltered state.
- Improvements
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Any item added to vacant land with the intent of increasing its value or usability.
- Income Approach
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The process of estimating the value of property by considering the present value of a stream of income generated by the property.
- Income Property
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A piece of property whose highest and best use is the generation of income through rents or other sources.
- Independent Appraisal
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An estimation of value created by a professional, certified appraiser with no vested interest in the value of the property.
- Inspection
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The examination of a piece of property, its buildings, or other amenities.
- Insurable Title
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The title to property that has been sufficiently reviewed by a title insurance company, such that they are willing to insure it as free and clear.
- Interest Rate
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A percentage of a loan or mortgage value that is paid to the lender as compensation for loaning funds.
- Investment Property
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Any piece of property that is expected to generate a financial return. This may come as the result of periodic rents or through appreciation of the property value over time.