Property Valuation
In West Virginia real estate, assemblage refers to:
AThe process of demolishing a building before sale
BCombining two or more adjacent parcels into a single larger parcel, potentially creating added value (plottage)✓ Correct
CThe appraisal process of collecting comparable sales data
DThe legal description of a subdivision
Explanation
Assemblage is the combining of two or more contiguous parcels into one. The increased value created by assemblage — where the whole is worth more than the sum of its parts — is called plottage value.
Related West Virginia Property Valuation Questions
- Which West Virginia property characteristic typically requires the greatest downward adjustment in the sales comparison approach?
- In a West Virginia appraisal, 'market rent' differs from 'contract rent' in that:
- Functional obsolescence in a West Virginia property refers to:
- In West Virginia, the income approach to value is MOST appropriate for:
- In the sales comparison approach, adjustments are made to the comparable properties because:
- The cost approach to value includes which of the following components?
- A West Virginia appraiser is asked to estimate the value of a historic Charleston building. The cost approach may be less reliable because:
- The principle of conformity holds that property value is maximized when:
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