Talk:Highest and best use

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Can you please explain when a person would use the terms, "Highest and Best Use" please define this for us.

Thanks

This is real estate appraiser nomenclature. appraisals@raknight.com (02/06/2008) —Preceding unsigned comment added by 76.177.77.167 (talk) 20:29, 6 March 2008 (UTC)

tontis_41@msn.com

The term serves as the fundamental basis for all real estate appraisal. It is as fundamental as determine market rent.Martin Heidegger 20:44, 8 November 2006 (UTC)

I'll add two cents worth to this. In the U.S., under the Uniform Standards of Professional Appraisal Practice, if the basis of value is Market Value, then the appraiser is required to perform an analysis of the HBU of the property and report that in the appraisal report. Market Value explicitly presumes that the property is utilized at its highest and best use. (Good question, by the way) Thesurveyor (talk) 17:22, 24 November 2007 (UTC)