Highest & Best Use: Analysis & Application


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question 1 of 3

What should be the first step when determining highest and best use?

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1. What is highest and best use?

2. When analyzing an improved property that requires an extensive amount of work, what other alternatives would you suggest?

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About This Quiz & Worksheet

What can you remember about this valuation method in real estate? Find out by trying the questions now, including definitions, zoning laws and more.

Quiz & Worksheet Goals

Measure what you know about the following topics:

  • Alternatives in analyzing an improved property that requires extensive work
  • The first step in deciding highest and best use
  • The importance of checking zoning laws
  • Defining highest and best use
  • The definition of financial feasibility

Skills Practiced

You'll practice the following skills with this worksheet:

  • Defining key concepts - ensure that you can accurately define main phrases, such as financial feasibility and highest and best use
  • Knowledge application - use your knowledge to answer questions about property analysis alternatives
  • Information recall - access the knowledge you've gained regarding zoning laws and their importance

Additional Learning

Try reading Highest & Best Use: Analysis & Application, the companion lesson to this quiz. It can be used to learn more about these topics:

  • How to analyze vacant land
  • Knowledge needed to assess the highest and best use of a property
  • Various considerations when analyzing improved properties