Property Valuation
What is 'reconciliation' in the appraisal process?
AComparing the appraisal with the tax assessment
BThe final step where the appraiser weighs the results of the approaches used and reaches a single value conclusion✓ Correct
CAveraging the values from all approaches
DThe process of correcting errors in the appraisal report
Explanation
Reconciliation is the final appraisal step where the appraiser weighs the results from each approach used (sales comparison, income, cost) based on their reliability for the specific property type and market conditions. The result is a single, supported value conclusion — NOT simply an average of the approaches.
Related Idaho Property Valuation Questions
- When using the sales comparison approach, an appraiser makes adjustments for differences. If the subject property has 3 bedrooms and the comparable has 4 bedrooms (with each bedroom worth $10,000), the appraiser should:
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- When an appraiser makes a positive adjustment to a comparable sale, it means:
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- What is a 'broker price opinion' (BPO) in Idaho?
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