Valuation & AppraisalCâu 94 / 120
The concept of 'highest and best use' refers to the use that is:
a.Whatever the current owner personally prefers
b.Always the most expensive possible structure
c.Determined solely by the listing agent
d.Legally permissible, physically possible, financially feasible, and maximally productive
Giải thích
Highest and best use is the reasonably probable use that is legally permissible, physically possible, financially feasible, and produces the highest value. Appraisers analyze it to value land and improvements properly. It may differ from the property's current use.
Luyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- An appraisal is best described as:
- Depreciation in appraisal that results from outdated design or features, such as an obsolete floor plan, is called:
- A loss in property value caused by negative factors outside the property, such as a nearby factory or declining neighborhood, is:
- An appraiser making adjustments in the sales comparison approach adjusts the:
- The principle of 'conformity' in appraisal suggests that a property's maximum value is generally realized when:
- Under the principle of regression, a high-value home located among lower-value homes will tend to:
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