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Sagot :
The costs to remove an old building, legal fees to secure title, title insurance, land preparation are capitalized in the cost of land.
What does the capitalized cost of land include?
Land acquired to build a home is capitalized as land. Expenses for preparing the property for use. Demolition of a structure is considered part of the property.
Leveraging costs is profitable. This is because companies that acquire new long-term assets can amortize or amortize the expense. This is called capitalization. These costs include the purchase price of the property, title fees, attorney fees, survey fees, and zoning fees.
It often includes site preparation costs such as grading and drainage, as well as demolition of old structures. All of these costs can be considered normal and essential in preparing the country for its intended purpose.
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