Tennessee Sample Letter regarding Request for Appraisal Sample Letter
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How to fill out Sample Letter Regarding Request For Appraisal Sample Letter?
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FAQ
Since there is considerable improvements value in excess of land value, the highest and best use for the whole property is as a fire training center.
Highest and best use may be defined as "the reasonably probable and legal use of vacant land or improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest value."
Tennessee, sometimes called the ?Volunteer State,? has over 1,800 appraisers licensed to appraise real estate in the state. The Tennessee Real Estate Appraiser Commission oversees the licensing of real estate appraisers.
Here's a breakdown of the four criteria that Highest and Best Use must meet. Physically possible. You must consider the size, shape, topography, and accessibility of the site when determining if it is physically possible. ... Legally permissible. ... Financially feasible. ... Maximally productive.
For improvements to represent the highest and best use of a site, they must be legally permitted, financially feasible, and physically possible, and must provide more profit than any other use of the site would generate.
Real Estate Appraiser: How to Become an Appraiser Becoming an appraiser requires a training period that lasts a minimum of two years. To become a trainee, you'll need a certified appraiser to serve as your supervisor and you'll need to complete 82 hours of required coursework.
The Appraisal Institute defines highest and best use as ?the reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible and that results in the highest value.? Appraisers typically apply four tests to determine that use.
