Nationwide Multistate Licensing System NMLS · Flashcards · Recall
NATIONWIDE MULTISTATE LICENSING SYSTEM NMLS · FLASHCARDS
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QUESTION
What appraisal approach is most appropriate for valuing a new or special-purpose property?
QUESTION
What is net operating income (NOI) in the income approach?
QUESTION
What is the principle of highest and best use in appraisal?
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ANSWER
Most profitable legal use that is physically possible and feasible. This principle determines value based on the use yielding the highest return, guiding appraisers in land and improvement analysis.