medium · National Real Estate Exam
An appraiser is determining the highest and best use of a vacant site.
Which is the correct chronological order for applying the four mandatory tests?
- Physically possible, Legally permissible, Maximally productive, Financially feasible
- Maximally productive, Financially feasible, Physically possible, Legally permissible
- Financially feasible, Maximally productive, Legally permissible, Physically possible
- Legally permissible, Physically possible, Financially feasible, Maximally productive
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