Property Valuation
What is reconciliation in the appraisal process?
AThe process of averaging all three appraisal approaches
BThe appraiser's analysis and weighting of the value indications from each approach to arrive at a final opinion of value✓ Correct
CThe buyer and seller agreeing on the final price
DThe lender's review of the appraisal report
Explanation
Reconciliation is the final step in the appraisal process where the appraiser analyzes the value indications from each applicable approach (sales comparison, cost, income) and weighs them based on data quality and relevance to the property type to arrive at a final value opinion.
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