Property Valuation
What does 'reconciliation' mean in the appraisal process?
AThe process of correcting mathematical errors in the appraisal report
BThe appraiser's process of weighing the results of multiple valuation approaches to arrive at a final value estimate✓ Correct
CReconciling tax assessments with market value
DThe process of matching comparable sales to the subject property
Explanation
Reconciliation (also called correlation) is the process by which the appraiser weighs the results from the various approaches used (sales comparison, cost, income) and arrives at a single final estimate of value, giving more weight to the most reliable approach.
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