highest and best use of land
The definition of highest and best use is as follows. The vacant land may have more value for those wanting to build a new home in this great area.
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If you need help finding land or determining the highest and best us give us a call at 602-492-9242 or visit us online.
. The reasonable probable and legal use of vacant land or an improved property which is physically possible appropriately. If it is determined the property is beyond repair the highest and best use may be to demolish it. Also if you have some property that has.
But is that the best use. Well help you determine exactly what will be the most. The reasonable probable and legal use of vacant land or an improved property which is physically possible appropriately supported financially feasible and that results in the highest.
In the context of market value highest and best use is defined as. The highest and best use of that land might be retail or commercial. Thats a pretty easy concept.
According to the Appraisal Institute the definition for highest and best use is the reasonably probable and legal use of vacant land or an improved property that is physically possible. The use must be. Theres no doubt that the highest use of the land in economic terms is to slice and dice the land into lots for houses.
If the subject property clearly has excess land as in the case of the house on two lots described above the correct answer to this question is usually No followed by an explanation that the. The reasonable and probable use that will support the highest present value as defined as of the appraisal effective date. I think everybody agrees with that.
The highest and best use of particular parcel of land is the most advantageous use to which the land may be put having regard to relevant planning instruments and the. The highest and best use of a property must be one that is. That reasonably probable and legal use of vacant land or an improved property which is physically possible appropriately supported financially feasible and that.
The highest and best use of a specific parcel of land is not determined through subjective analysis by a property owner developer real estate agent or appraiser. The use must comply with laws regulations and ordinances.
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