Property Valuation
Highest and best use in New Hampshire appraisal practice means the use that is:
ACurrently in place regardless of market conditions
BLegally permissible, physically possible, financially feasible, and maximally productive✓ Correct
CPermitted by state law but not local zoning
DMost profitable in any use regardless of legality
Explanation
Highest and best use is the reasonably probable and legal use that is legally permissible, physically possible, financially feasible, and maximally productive — producing the highest present land value.
Related New Hampshire Property Valuation Questions
- When using the sales comparison approach, an appraiser makes adjustments to comparable sales. If a comparable has an extra full bathroom that the subject property lacks, the appraiser will:
- A NH appraiser's USPAP obligation requires that the appraisal report be:
- An appraiser preparing a URAR (Uniform Residential Appraisal Report) for a Concord, NH single-family home is required to certify that they:
- A New Hampshire buyer overpays for a property due to emotional attachment. The resulting value exceeds market value and is called:
- External (economic) obsolescence in real estate valuation is caused by:
- In New Hampshire, the town's assessed value vs. market value discrepancy is measured by the:
- The principle of substitution states that a buyer will not pay more for a property than:
- External (economic) obsolescence affecting a New Hampshire property is BEST illustrated by:
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