Property Valuation
What is 'under-improvement' in Delaware real estate appraisal?
AA property with inadequate structural improvements
BA property where the existing use does not achieve the land's highest and best use, leaving value on the table✓ Correct
CA property that has received fewer improvements than required by code
DA property with below-average maintenance
Explanation
An under-improvement is a property where the current use or improvements do not maximize the land's potential. The land value may support a more intensive use than what is developed on it, suggesting the current use is not the highest and best use.
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