Property Valuation
Which of the following South Carolina properties would most likely use the cost approach as the primary valuation method?
AA 10-unit apartment building
BA newly constructed custom home with no comparable sales✓ Correct
CA retail strip center
DA single-family home in an established subdivision
Explanation
The cost approach is most reliable for new or unique properties where comparables are scarce. A newly constructed custom home with no comparable sales is a prime candidate for the cost approach.
Related South Carolina Property Valuation Questions
- In South Carolina, real property is assessed at what percentage of fair market value for owner-occupied residential (legal residence)?
- In South Carolina, a property appraiser identifies the 'subject property' as:
- Which of the following is NOT included in the cost approach to value?
- In the South Carolina sales comparison approach, what does a 'paired sales analysis' determine?
- What is 'effective age' in South Carolina real estate appraisal?
- In South Carolina, real property taxes are calculated by multiplying the assessed value by:
- A South Carolina appraiser who violates USPAP (Uniform Standards of Professional Appraisal Practice) may face:
- What is 'plottage' in South Carolina real estate valuation?
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →