Property Valuation
A Wyoming property's 'as improved' highest and best use considers:
AWhat the land would be worth if vacant
BWhether the existing improvements contribute to or detract from value and if retention, renovation, or demolition is indicated✓ Correct
COnly the current use of the property
DThe seller's intended future use
Explanation
The 'as improved' highest and best use analysis considers whether the existing improvements are appropriate for the site, whether they should be retained, renovated, or demolished and replaced. This analysis affects the appraisal approach and value conclusion.
Related Wyoming Property Valuation Questions
- The principle of 'substitution' underlies which appraisal approach?
- Replacement cost in the cost approach uses:
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- In Wyoming, functional obsolescence that is curable means:
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- The Uniform Standards of Professional Appraisal Practice (USPAP) requires Wyoming appraisers to:
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