Property Valuation
In appraising a historic property, which approach would likely be most challenging because the property has unique features not found in comparable sales?
ACost approach
BIncome approach
CSales comparison approach✓ Correct
DGross rent multiplier approach
Explanation
The sales comparison approach may be most challenging for a historic property because its unique architectural or historical features make finding truly comparable sales very difficult. The cost approach may also be challenging due to difficulty valuing unique historic elements. Appraisers use judgment in selecting and weighting approaches for special properties.
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