Property Valuation
What is 'site analysis' in the appraisal process?
AA geotechnical analysis of soil composition for construction purposes
BAn evaluation of the land parcel's physical characteristics, legal attributes, and locational factors that affect value✓ Correct
CAn environmental assessment required before any Illinois appraisal
DAn analysis of comparable land sales only, without the improvements
Explanation
Site analysis in appraisal evaluates the subject land parcel's characteristics including: size and shape, topography, utilities, legal description, zoning, easements and encumbrances, flood zone status, and location relative to amenities. Site analysis helps appraisers understand the land's contribution to value and identify the highest and best use as vacant and as improved.
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