Humber College Exam 4: Invigilated Theory Exam PREX-1060A Question # 31 Topic 4 Discussion
PREX-1060A Exam Topic 4 Question 31 Discussion:
Question #: 31
Topic #: 4
A land developer is interested in purchasing a piece of vacant land. Which of the following statements about evaluating the highest and best use of the real property is correct?
A.
A designated appraiser will use all factual sales data to determine the value of the current highest and best use of the property.
B.
The estimate of value is related to how a typical buyer, with a reasonable knowledge of the market and property, wants to use the property.
C.
The land developer can identify the use of the property that is anticipated to produce the highest overall return so the appraiser can complete the appraisal.
D.
A property's highest and best use is the use that, at the time the building was built, was most likely to produce the greatest net return.
Chosen Answer:
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