Property Valuation
In Michigan, an appraiser's 'reconciliation' at the end of an appraisal report involves:
AAveraging all three approaches to arrive at a final value
BWeighing the results of each applicable approach and making a final, reasoned value conclusion✓ Correct
CSelecting the highest value from the three approaches
DAgreeing with the lender's requested value
Explanation
Reconciliation is the appraiser's final step: analyzing and weighing the value indications from each approach applied (cost, sales comparison, income) based on their reliability for the subject property, then forming a single, reasoned final value conclusion.
Related Michigan Property Valuation Questions
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