Property Valuation
In Montana, a 'reconciliation' in an appraisal report is the process by which the appraiser:
AReconciles the property's market value with its assessed value
BWeighs the value indications from the different appraisal approaches to arrive at a final value conclusion✓ Correct
CReconciles differences between the survey and legal description
DAverages the three approaches to value mathematically
Explanation
Reconciliation is the appraiser's reasoned judgment process of weighing the value indications from each applicable approach (sales comparison, cost, income), considering the reliability and relevance of each, to arrive at a final value conclusion.
Related Montana Property Valuation Questions
- In the cost approach to value in Montana, 'reproduction cost' differs from 'replacement cost' in that:
- In Montana, an appraiser is required to follow the Uniform Standards of Professional Appraisal Practice (USPAP), which are:
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- A Montana real estate agent performing a comparative market analysis (CMA) for a seller is providing:
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