As part of the data analysis step in the appraisal process,it is necessary to consider the highest and best use of the property in question.In regards to determining highest and best use,all of the following statements are true EXCEPT:
A)The proposed property use must be legally permissible.
B)It must be physically possible for the property to be used in the manner specified.
C)No financially limits are considered when determining the property's best use.
D)The property use must provide the greatest benefit to the owner.

Question

Quizplus · Accepted Answer

Financial limits are a crucial factor when determining the highest and best use of a property. It is essential to evaluate the potential income streams and expenses associated with different uses to determine the most profitable option. Therefore, statement C, "No financial limits are considered when determining the property's best use," is false.

As Part of the Data Analysis Step in the Appraisal