Property Valuation
What does 'reconciliation' mean in the appraisal process?
AAveraging the three approaches to value
BWeighing and analyzing the results of multiple valuation approaches to arrive at a final value conclusion✓ Correct
CReconciling the appraisal with the purchase price
DVerifying comparable sales with the MLS
Explanation
Reconciliation is the appraiser's process of analyzing and weighting the results from the sales comparison, cost, and income approaches to arrive at a final, supported estimate of value. It is not a simple average.
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