Which appraisal method would be most appropriate for determining the likely selling price of a home?

The sales comparison approach is the most appropriate method for determining the likely selling price of a home. This technique involves comparing the property being appraised to similar properties that have recently sold in the same area. By analyzing factors such as location, size, condition, and features, appraisers can use recent sales data to estimate a fair market price for the subject property.

This approach is particularly effective for residential properties because it reflects current market conditions and buyer preferences, making it a reliable indicator of what buyers are willing to pay. It incorporates real-world data, ensuring that the valuation reflects the realities of the housing market.

In contrast, the cost approach is more commonly used for special properties or new constructions where the cost to build a home is critical, while the income approach is suited for investment properties focused on generating rental income. The market value approach, while a term often used to refer to estimated selling prices in a broader sense, does not provide a specific appraisal method on its own. Hence, the sales comparison approach stands out as the most practical choice for determining home selling prices.