Property Valuation
The 'reconciliation' process in an NC appraisal report involves:
AAveraging the values from all three approaches
BGiving the most weight to the approach most applicable to the property type and purpose, and arriving at a final value opinion✓ Correct
CSelecting only the highest value from all approaches
DPresenting all three values without choosing one
Explanation
Reconciliation is the final step in the appraisal process where the appraiser analyzes and weighs the indications of value from each approach applied, giving most weight to the most reliable and applicable approach, to arrive at a final value conclusion.
Related North Carolina Property Valuation Questions
- The income approach to value uses which formula?
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- An 'appraisal' in NC is defined as:
- An adjustment in the sales comparison approach for a feature the subject property HAS but the comparable does NOT have requires the appraiser to:
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