Property Valuation
A Maine appraiser values a single-family home using three approaches: sales comparison ($315,000), cost approach ($320,000), and income approach ($305,000). The appraiser's final reconciled value is typically:
AThe average of all three approaches
BThe highest value for the seller's benefit
CThe approach or weighted combination the appraiser determines most reliable for the property type✓ Correct
DThe lowest value to protect the lender
Explanation
Reconciliation requires the appraiser to weigh the relative reliability of each approach for the property type. For single-family residential properties, the sales comparison approach is typically given the most weight.
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