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: Real Estate
\ Eileen M. Day REALTOR
* HIGHEST AND BEST USE
You may have heard the phrase, "highest and best use" when marketing real estate. This is an appraisal term used to describe the best use for a given property. Highest and best use presumes that local zoning and building codes per mil more than a single use for the property. For instance, if your property is zoned for sin gle family residential use only, then the principal of highest and best use would not apply because it is only a single use category'.
If, on the other hand, the single family home is located in a general residence area, sub dividing into 2 or more rental • units may be permissible. Also. ; if the single family home is in a • business zoned district, an al . ternative for highest and best l use consideration could lx: • conversion into commercial • use. • 1 you have a property that • could have more than one zon ing application, why not call us It wouldn't hurt to investigate whether the property could command the highest price for the best use—would it?
If there is anything we can do to help you in the field of real estate please stop in at EILEEN M. DAY, Realtor. The Clopton House. Washington, Va. 22747 Phone 675-3033. Were here to help.___
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