The method based on the premise that the buyer will not pay more for a property than for a the expense of constructing a comparable property with the same utility is:

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The method described is the cost approach, which determines the value of a property based on the cost of constructing a comparable property with the same utility. The market approach involves comparing the property to similar properties that have sold recently, while the income approach involves estimating the property's value based on the income it generates. The "buyer approach" is not a commonly used term in real estate valuation methods.

The Method Based on the Premise That the Buyer Will