Chapter 16 Gold Coast real estate course
Exam Questions and Answers with Verified
Solutions | Latest Updated 2026
Price is based upon watt The price that is paid for real estate
transaction. Time and difficulty.
Liquidation Value Feeling business not expected to
continue.
Market Value Most profitable price at which it should
sell
Principle of Substitution No one would pay more than the amount
necessary to acquire an acceptable
substitution. When you compare it to
another property and they're the same,
but the other property is cheaper.
Highest and best use analysis The property is analyzed to the time of
the highest and best use of the site. It also
determines if the present use is the best
use, or if an alternative should be
considered to maximize the value of the
land.
Adjust the comparable sales If the comparable property is better, then
prices subtract. It's a comparable property is
inferior at.
Exam Questions and Answers with Verified
Solutions | Latest Updated 2026
Price is based upon watt The price that is paid for real estate
transaction. Time and difficulty.
Liquidation Value Feeling business not expected to
continue.
Market Value Most profitable price at which it should
sell
Principle of Substitution No one would pay more than the amount
necessary to acquire an acceptable
substitution. When you compare it to
another property and they're the same,
but the other property is cheaper.
Highest and best use analysis The property is analyzed to the time of
the highest and best use of the site. It also
determines if the present use is the best
use, or if an alternative should be
considered to maximize the value of the
land.
Adjust the comparable sales If the comparable property is better, then
prices subtract. It's a comparable property is
inferior at.
