Property Valuation
Reconciliation in the appraisal process involves:
AAdding all three approaches to value together
BWeighing the results of the three approaches and arriving at a single value estimate✓ Correct
CVerifying the property's legal description
DComparing the appraised value to the contract price
Explanation
Reconciliation is the final step in the appraisal process where the appraiser weighs the results of the cost, sales comparison, and income approaches based on the type of property and quality of data to arrive at a final value opinion.
Related North Dakota Property Valuation Questions
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