The Principle of Substitution, which states no one will pay more for an item if an equally substitutable item is available at a lower price, applies to which appraisal methods? 1. Sales Comparison only 2. Sales Comparison, Replacement Cost, and Income 3. Income only 4. Replacement Cost and Sales Comparison only

Social Studies · High School · Thu Feb 04 2021

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The Principle of Substitution is a fundamental concept in real estate appraisal, and it applies primarily to the Sales Comparison Approach. Therefore, the correct answer:

1 ) Sales Comparison only


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