Property Valuation
In Missouri, the correlation (reconciliation) process in appraisal gives the appraiser the opportunity to:
AAverage all three approach values equally
BWeight the approaches based on the type of property and the reliability of available data✓ Correct
CSelect the highest value to please the client
DDiscard the income approach always
Explanation
Reconciliation involves weighing the reliability and applicability of each approach (cost, sales comparison, income) for the specific property type and market conditions to arrive at a final value opinion.
Related Missouri Property Valuation Questions
- A Missouri property is over-improved when:
- In Missouri appraisal, an adjustment is made to a comparable sale for a feature the subject property lacks. This adjustment is:
- Missouri law requires that licensed appraisers follow:
- A broker price opinion (BPO) in Missouri is different from a formal appraisal because:
- In Missouri, the assessment ratio for personal property (business equipment, vehicles) is:
- The income capitalization approach values a Missouri property by:
- A Missouri appraiser uses a cost approach on a 20-year-old home with an economic life of 50 years. The percentage depreciation using age-life method is:
- The 'highest and best use' principle in Missouri appraisal requires analysis of which criteria?
Practice More Missouri Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Missouri Quiz →