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 financial 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

All statements are true except C. Financial limits are an important factor to consider when determining the highest and best use of the property as it affects the feasibility and profitability of the proposed use.

As Part of the Data Analysis Step in the Appraisal