Property Valuation
In Alaska, 'reconciliation' in the appraisal process means the appraiser:
AAdjusts the value to match the client's expectations
BReviews and weighs the evidence from all approaches to arrive at a final value conclusion✓ Correct
CReconciles their report with the lender's required value
DAverages the three approach values
Explanation
Reconciliation is the appraisal process of reviewing and weighing the indications of value from all approaches used (sales comparison, cost, and income) and the quality of evidence supporting each to arrive at a final, well-supported value conclusion. It is a judgment process, not a mathematical average.
Related Alaska Property Valuation Questions
- An Alaska appraiser using the cost approach calculates the following: land value $150,000, replacement cost new of improvements $400,000, total depreciation $80,000. The indicated value is:
- The 'land residual technique' in appraisal is used primarily to:
- An Alaska appraiser is asked to provide a 'retrospective appraisal' as of the date of a fire three years ago. The appraiser must:
- Under USPAP, an Alaska appraiser who has a financial interest in a property they are appraising must:
- In Alaska, an appraiser who inflates an appraisal at the lender's request to make a purchase transaction work is committing:
- An Alaska property with a 40-year-old structure in excellent condition has an effective age of 15 years. This reflects the principle that:
- An appraiser uses an income multiplier of 9.5 for a property with annual gross income of $48,000. The indicated value is:
- In Alaska, the 'principle of anticipation' states that value is based on:
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