Which step involves determining the approaches to be used?

Which step involves determining the approaches to be used?

• A. Outline the Appraisal Report
• B. Plan the work schedule
• C. Determine the approaches to be used
• D. Preliminary estimate of highest and best use

Answer: (C)

Determining the approaches to be used is the planning step that sets the valuation framework. At the start of an appraisal, the appraiser decides which valuation methods are appropriate for the property, data availability, and the purpose of the assignment. This choice—whether to apply the Sales Comparison, Cost, and/or Income approaches—guides what data will be collected and how the value will be analyzed and eventually reconciled. The other steps serve different roles: outlining the appraisal report is about documenting and presenting results, planning the work schedule handles timing and resources, and a preliminary estimate of highest and best use is an early analysis of what use would be feasible or most profitable, not the method selection itself.

Determining the approaches to be used is the planning step that sets the valuation framework. At the start of an appraisal, the appraiser decides which valuation methods are appropriate for the property, data availability, and the purpose of the assignment. This choice—whether to apply the Sales Comparison, Cost, and/or Income approaches—guides what data will be collected and how the value will be analyzed and eventually reconciled. The other steps serve different roles: outlining the appraisal report is about documenting and presenting results, planning the work schedule handles timing and resources, and a preliminary estimate of highest and best use is an early analysis of what use would be feasible or most profitable, not the method selection itself.