- Jun 30, 2002
- Professional Status
- Certified Residential Appraiser
I have a client that is thinking of selling her own home. The home is located along a busy street and the area is changing from single family to commercial. The zoning supports both. Her home could be sold as a single family residence or for use as office space with no change to the structure. Highest and best use is commercial so she could get a higher value for the home as office space than if she sold it as residential. I am not qualified to do a commercial appraisal so how would one handle this situation? Should I suggest the home be appraised as commercial? Could an appraiser still appraise a property one way if its not the highest and best use? ie: she decides to sell it as a residential home and wants to know what the value might be.