Property Valuation
An appraiser in NC who estimates the value of a proposed new development building uses which approach as the primary method?
ASales comparison approach
BIncome approach
CCost approach✓ Correct
DGross rent multiplier
Explanation
For new or proposed construction, the cost approach is typically primary because there are no comparable sales yet, and it estimates value based on land value plus the cost to construct the improvements.
Related North Carolina Property Valuation Questions
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