Property Valuation
What is 'reconciliation' in the final step of an Oregon appraisal?
AThe appraiser adjusting the final value to match the contract price
BThe process of weighting and combining the values from multiple approaches to arrive at a final value opinion✓ Correct
CReconciling the appraisal with the county's assessed value
DNegotiating between buyer and seller appraised values
Explanation
Reconciliation is the final step in an appraisal where the appraiser weights and combines the value indications from each approach (cost, sales comparison, income) to arrive at a single, supported value opinion. The appraiser considers the quality of data, the applicability of each approach to the property type, and any other relevant factors in determining the final value.
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