Property Valuation
Reconciliation in an Iowa appraisal report is the process in which the appraiser:
AAverages the three approach values to determine final value
BWeighs and analyzes the value indications from the applicable approaches to reach a final value conclusion✓ Correct
CAdjusts all comparable sales upward for market conditions
DSubmits the report to the IREC for review
Explanation
Reconciliation is the process by which an appraiser analyzes and weighs the value indications from each applicable approach (sales comparison, cost, and income), considering the quality and quantity of data and the property type, to arrive at a single final opinion of value.
Related Iowa Property Valuation Questions
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