Which two tests must passes for uses to be feasible in this scenario's highest and best use analysis?

Master the Mckissock General Appraiser Sales Comparison Approach Test with comprehensive quizzes and explanations. Enhance your skills in the appraiser profession and pass your exam with confidence!

Multiple Choice

Which two tests must passes for uses to be feasible in this scenario's highest and best use analysis?

Explanation:
The essential checks for determining feasibility in highest and best use are that the proposed use must be physically possible and legally permissible. Physically possible means the site can actually accommodate the use given its physical characteristics—size, shape, topography, access, utilities, and other local constraints. Legally permissible means the use is allowed by current zoning, land-use regulations, building codes, easements, covenants, and any other legal restrictions that could prevent that use. Only after confirming both of these conditions are satisfied do you evaluate financial feasibility and the maximum productive use of the site. The other pair—environmental or economic viability—concerns sustainability and profitability, which come after establishing that the use is even allowed and technically feasible.

The essential checks for determining feasibility in highest and best use are that the proposed use must be physically possible and legally permissible. Physically possible means the site can actually accommodate the use given its physical characteristics—size, shape, topography, access, utilities, and other local constraints. Legally permissible means the use is allowed by current zoning, land-use regulations, building codes, easements, covenants, and any other legal restrictions that could prevent that use.

Only after confirming both of these conditions are satisfied do you evaluate financial feasibility and the maximum productive use of the site. The other pair—environmental or economic viability—concerns sustainability and profitability, which come after establishing that the use is even allowed and technically feasible.

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