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Highest and Best Use

Highest and Best Use Step-By-Step - Land Value

by Administrator on Sep 15, 2018 Highest and Best Use 21 Views

Many people make assumptions about vacant land parcels based on what they have been told on based on a brief observation. Properties that look valuable may however have little or no potential use, and thus little or no monetary value, while properties that appear worthless can be extremely valuable. For appraisers it all begins with a highest and best use analysis. Depending on the use a highest and best use analysis can be based on observed evidence and the land use patterns, but the process can be more intensive when necessary and include a complete market analysis and feasibility study. Most appraisals do not require the most intensive highest and best use development process.

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