Property Valuation
In an appraisal, the process of 'reconciliation' refers to:
AAveraging the three approaches to value
BWeighing the results of all applicable approaches to arrive at a final value estimate✓ Correct
CAdjusting comparable sales for time differences
DResolving disputes between the appraiser and the lender
Explanation
Reconciliation is the final step in the appraisal process in which the appraiser weighs the results of each approach used (sales comparison, cost, income) based on their applicability and reliability, then arrives at a final value estimate. It is not a simple average.
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