Saturday , 23 January 2021

highest and best use

The Four Tests of Highest and Best Use

Earlier this year, we asked our real estate appraisal community, “What’s the ONE thing that is most often overlooked by appraisers?” The top answer we received was “Highest and Best Use.” Highest and Best Use is the reasonable, probable, and legal use of vacant land or an improved property. Here’s a breakdown of the four criteria that Highest and Best …

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The One Thing That’s Most Often Overlooked by Appraisers

We recently asked our appraisal community, “What’s the ONE thing that is most often overlooked by appraisers?” We received a wide variety of answers ranging from big-picture oversights to specific details. The most common answer we received was “Highest and Best Use.” However, many real estate appraisers had other opinions regarding the most commonly overlooked item in an appraisal. Read …

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