Property Valuation
An appraiser's final 'reconciliation' step in the appraisal process involves:
AA. Averaging the results of all three approaches
BB. Weighing the results of applicable approaches and forming a final value opinion✓ Correct
CC. Adjusting the value to match the contract price
DD. Confirming the sale with the listing agent
Explanation
Reconciliation is the final step where the appraiser considers the reliability of each approach used, applies more weight to the most appropriate method for the property type, and arrives at a final value conclusion — not a simple average.
Related Georgia Property Valuation Questions
- A Georgia appraisal shows that a comparable property sold for $315,000 with a two-car garage. The subject property has a one-car garage. The appraiser estimates that the difference in garage value is $8,000. The adjustment to the comparable is:
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