High And Best Use. 1 Highest and Best Use Decisions Wayne Foss, Most of the time it boils down to engineering - the cost. According to The Appraisal Institute the highest and best use of a property is defined as: "The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, and financially feasible and that results in the highest value."
ReuseWood from reusewood.org
[1]According to the doctrine of "highest and best use," in any case where the market value of real property is sought, that value must be based on that use that would produce the highest value. Highest and best use analysis produces the highest value for a property based on the concept of maximum productivity.
ReuseWood
In the realm of real estate and property development, the concept of Highest and Best Use (HBU) Analysis stands as a cornerstone for determining the fair market value of a property.This analysis not only encapsulates the potential uses that may yield the most significant economic return but also aligns with legal, physical, and financial feasibilities. In the realm of real estate and property development, the concept of Highest and Best Use (HBU) Analysis stands as a cornerstone for determining the fair market value of a property.This analysis not only encapsulates the potential uses that may yield the most significant economic return but also aligns with legal, physical, and financial feasibilities. Applying Highest and Best Use to an Existing Structure
Highest and Best Use Analysis (HBU) LOGAN Valuation. For example, we cannot construct a building as high as Burj Khalifa on 1,000 SqM site So, a property with high usage will simultaneously lead to the highest value.
Highest and best use turquoise concept icon. Zero waste business principle abstract idea thin. Most of the time it boils down to engineering - the cost. existing land use regulations; (ii) reasonably probable modifications of such land use regulations; (iii) economic supply and demand; (iv) the physical adaptability of the real estate; and, (v) market area trends; and (b) develop an opinion of the highest and best use of the real estate." It should be noted that a more detailed highest and best