highest and best use real estate example
It is very clear that the hospitality use gives the maximum profit 5000. The highest and Best Use of Real Estate As development picks up consider the competitive forces that shape highest and best use.
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The four criteria the highest and best use must meet are legal permissibility physical possibility financial feasibility and maximum productivity.
. Different motivations influence the highest and best use and are significant to an appraisers conclusions about the highest and best uses of any parcel of real estate. HIGHEST AND BEST USE EXAMPLE Highest and best use is defined by Real Estate Appraisal Terminology as follows. For example if an area is zoned as residential it would be hard for an appraiser to state that the highest and best use of that real estate would be as a commercial building.
Good commentary is the key to a solid appraisal. Standards Rule 2-2 a ix indicates. September 13 2010.
HIGHEST AND BEST USE EXAMPLE. O highest and best use of property to be short-term holding development property and. However this method can be very.
O market value estimated to be 1000000. The best way to keep an appraisal from coming back is to answer the underwriters questions before they ask them. For example house A in an area zoned for residential use may have a highest and best use as vacant and a highest and best use as improved that are both residential.
An example of the highest and best use analysis would be if you owned a vacant plot of land in an urban area that was zoned for. A similar house B in. Our initial research indicates the following construction cost and sales prices for each use.
Analyzing Investment Value to Determine Highest Best Use. But Standards Rule 2-2 a x. For example the cost approach is often considered to be the most accurate method for predicting a propertys highest and best use.
Highest and Best Use Example. Commercial real estate markets are dynamic which. State the use of the real estate existing as of the date of value and the use of the real estate reflected in the appraisal.
Highest and Best Use is a fundamental principal of real estate valuation that takes into account the propertys current and alternate uses to determine which will generate the greatest value. Intended use of the appraisal was to secure. In some cases marketmarketability data may require a more specific.
Alternatively the probable use of land or. For example the highest and best use might be a commercial building or an office building. 1 Current Performance vs Potential Performance.
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