Property Valuation
Reconciliation in the appraisal process refers to:
AAdjusting comparable sales for differences from the subject property
BThe final step of weighing the results of the different valuation approaches to arrive at a final value estimate✓ Correct
CComparing the assessed value to the market value
DResolving disputes between the appraiser and lender
Explanation
Reconciliation is the final step in the appraisal process where the appraiser weighs and analyzes the results of the different approaches to value (sales comparison, cost, income) to arrive at a single final value estimate.
Related New York Property Valuation Questions
- In New York, 'reconciliation' in the appraisal process means:
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