Property Valuation
When a Maine appraiser makes final reconciliation, they are:
AAveraging all three approaches equally
BWeighing the reliability and appropriateness of each approach for the specific property type to arrive at a final opinion of value✓ Correct
CSelecting the highest value for the lender
DTaking the median of the three approaches
Explanation
Reconciliation is the process of weighing the results of each appraisal approach based on their relative applicability and reliability for the specific property type and market conditions, arriving at a final opinion of value.
Related Maine Property Valuation Questions
- In Maine, a 'fee simple subject to condition subsequent' estate affects appraised value because:
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- In real estate appraisal, a 'comparable sale' (comp) used in the sales comparison approach should be:
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