Property Valuation
The reconciliation step in an Indiana appraisal involves the appraiser:
AAveraging the three approaches to value
BWeighing the value indications from each approach to develop a final opinion of value✓ Correct
CAdjusting all comparable sales to the same date
DRequesting additional information from the client
Explanation
Reconciliation is the final step in the appraisal process where the appraiser considers the strengths and weaknesses of each approach and weights them appropriately to arrive at a final opinion of value — not a simple average.
Related Indiana Property Valuation Questions
- Indiana's Assessment Ratio Study (ARS) measures:
- Functional obsolescence in property appraisal refers to:
- The land residual technique in Indiana income property appraisal estimates land value by:
- An Indiana appraiser who determines the highest and best use 'as if vacant' is asking:
- An Indiana commercial property appraisal scope of work is determined by:
- An Indiana appraiser finding that a comparable sale was a foreclosure should typically:
- In Indiana, 'gross living area' (GLA) as used in residential appraisal includes:
- Indiana's 'True Tax Value' standard for assessment differs from fair market value in that:
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