highest and best use definition
CUSPAP highest and best use. The highest and best use and will be the highest and best use if that owner-occupant uses it.
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The reasonably probable and legal use of vacant land or an improved property that is physically possible appropriately supported financially feasible and.
. The reasonably probable and legal use of vacant land or an improved. The reasonably probable and legal use of vacant land or an improved property that is physically possible. The Fifth Edition of The Dictionary of Real Estate Appraisal by the Appraisal Institute defines highest and best use as.
Highest and best use is the use of a non-financial asset by market participants that would maximise the value of the asset or the group of assets and liabilities eg a business. Highest and best use shows how the highest value for a piece of real estate is concluded. The highest and best use may not be the current use of a property.
In real estate appraisals the use of a property that leads to its highest possible value. The Case for a Post-Disaster Highest and Best Use sodramaticallythatlong-rundecisionsaremadeina. Highest Best Use Definition.
The Appraisal Institute defines highest and best use as follows. Highest and Best Use. Highest and best use is based on the use that is going to bring the highest value for real.
In addition two new defi - nitions are proposed with the intent of clarifying the role of interim use in the valuation. In other words the highest. Highest and best use and resolve any confusion about that relationship.
The first definition of highest and best use is that it is the use for a piece of land or property in general that maximizes your net present value NPV. Highest and best use an appraisal term meaning the legally financially and physically possible use that at the time of appraisal is most likely to produce the greatest net return to the land. All real estate improvements are build-to-suit improvements to some degree.
The reasonably probable and legal use of. Highest and best use means the rea- sonable and most probable use of the property that would result in the high- est market value of vacant land or im- proved property as of the date of valu-. Reconsidering the Definition of Highest and Best Use.
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