highest and best use of a property is that use which

The typical and somewhat formal definition of highest and best use is as follows. Determination of the highest and best use of the property needs to be _____.

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Highest and best use can be described informally as a probable and legal use that will result in the maximum value for a parcel of real estate.

. Rather it must be appraised in terms of its highest and best use. Terms in this set 32 the highest and best use of a property must be one that is. The use must comply with laws regulations and ordinances.

The definition of highest and best use of land as if vacant requires appraisers evaluate the following four criteria. The reasonable probable and legal use of vacant land or an improved property which is physically possible appropriately. That reasonably probable and legal.

This does not necessarily mean the owners best use is the best. Highest and Best Use or highest or best use is a concept that originated with early economists such as Irving Fisher who conceptualized the idea of maximum productivity. The reasonable probable and legal use of vacant land or an improved property which is physically possible appropriately.

Definition of Highest and Best Use in Real Estate. In any case where the market value of real property is sought that value must be based on its highest and best use. The highest and best use is always that use that would produce the.

1 the most likely and profitable use of the site as if vacant under the requirements set forth above. An attempted analysis of highest and best use involves two considerations. A residential property is currently zoned for residential use but its highest and best use is.

The highest and best use analysis concept is a form of real estate appraisal that considers not only the best use of the property but any. That reasonably probable and legal use of vacant land or an improved property which is physically possible appropriately supported financially feasible and that. Given certain economic conditions the highest and best use is the propertys most profitable or beneficial use.

The reasonable probable and legal. Appraisers begin their highest and. The definition of highest and best use is as follows.

The definition of highest and best use is as follows.

Why Is Highest And Best Use So Important To The Appraisal Process

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Samambo Housing Real Property Highest And Best Value This Is The Use That Will Give The Owners The Greatest Return On Their Investment This Is Not Permanent What Was Once A