easy · National Real Estate Exam valuation

Which definition should the learner use?

1. A prudent buyer usually will not pay more than the cost of an equally desirable substitute.
2. It means this approach is correct: A buyer ignores an equivalent lower-priced property.
3. It is only an internal brokerage label with no legal, financing, valuation, or transaction effect.
4. It means a party’s preferred result controls even when the definition’s required facts are absent.

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