Property Valuation
Reconciliation in appraisal refers to:
AAveraging the three approaches to value
BThe appraiser's analytical process of weighting the three approaches to arrive at a final value opinion✓ Correct
CComparing the appraisal to tax assessed value
DAdjusting for differences between the appraisal and the contract price
Explanation
Reconciliation is the appraisal step where the appraiser weighs and reconciles the value indications from all three approaches (sales comparison, cost, income) based on their reliability for the specific property type and available data.
Related Arkansas Property Valuation Questions
- The capitalization rate (cap rate) is calculated by dividing:
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- An overimprovement to a property is one where:
- A comparable property sold for $310,000. It has one more bathroom than the subject. The market value of a bathroom is $8,000. The adjusted sale price of the comparable is:
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- An appraiser reviewing an income property's 'rent roll' is examining:
- Comparable sales selected by an appraiser should be:
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