Property Valuation
In Kansas appraisal, what does 'reconciliation' mean?
ABalancing the seller's and buyer's financial statements
BThe appraiser's process of weighing results from multiple valuation approaches to arrive at a final opinion of value✓ Correct
CCorrecting errors in the appraisal report
DMatching the appraisal to the contract price
Explanation
Reconciliation is the appraiser's analytical process of reviewing, weighting, and combining the value indications from all approaches used (cost, sales comparison, income) to arrive at a final opinion of value.
Related Kansas Property Valuation Questions
- Which approach to value is most commonly used to appraise single-family residential properties?
- What is 'price per square foot' analysis and how do Kansas appraisers use it?
- A Kansas appraiser finds that a property's neighborhood is in a 'stable' stage of its life cycle. This means:
- What is 'retrospective appraisal' in Kansas real estate and when might it be needed?
- In Kansas, what is 'zoning conformity' and why does it matter in appraisal?
- In Kansas, when an appraiser states 'subject to' in their appraisal report, it means:
- In Kansas, the 'scarcity' principle in real estate economics states that value increases when:
- A Kansas appraiser is asked to provide a 'retrospective appraisal.' This means the value opinion is as of:
Practice More Kansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kansas Quiz →