The highest and best use appraisal is perhaps the most important aspect of the appraisal process. This is because it determines the most profitable use of a property site. Whether the property is residential or commercial, a highest and best use study is the key to determining how profitable the property is and in which format.
When conducting a highest and best use study our certified appraisers look at a number of assets that can influence the overall property value. For example, the location and surrounding area. Are properties in the area similar to the property at hand? It is important for an appraiser to take a detailed look at the surrounding area to further determine the best use of the property when conducting a highest and best use study.
Without the proper knowledge and experience required to conduct an appraisal, you or a loved one could face inadequate results that could cost or lose thousands of dollars. Having one of our knowledgeable appraisers at your side will provide you with the skills and tools necessary to correctly conduct a highest and best use study.
Real Estate feasibility Study
Of all the approaches used when conducting a highest and best use study, it is absolutely vital to understand what is legally permissible. Property zoning, restrictions, deeds, and city codes can be an investor’s worst nightmare. Obtaining a current survey of a property should be one of the first steps in studying a property. Our appraisers are well-versed in city codes, construction restrictions, and building codes. Our goal is to make the most of your time and property! For more appraisal approaches meet with one of our experts today.