Property Valuation
In Utah's appraisal process, the final step of reconciliation requires the appraiser to:
AAverage the three approaches equally
BAssign weights to each approach based on the quality of data and applicability to the subject property✓ Correct
CUse only the highest value indicated
DReport all three values without selecting one
Explanation
In reconciliation, the appraiser does not mathematically average the approaches. They weight each based on data quality and applicability to develop a final, well-supported value conclusion.
Related Utah Property Valuation Questions
- A Utah appraiser using the income approach divides NOI by the cap rate to find the:
- The principle of regression in appraisal states:
- In the cost approach, the formula for estimating value is:
- An appraisal adjustment for a superior comparable sale would result in:
- Regression and progression are principles related to:
- The principle of substitution in real estate appraisal states:
- An appraiser's certification in a Utah appraisal report states that:
- An appraisal review in Utah may be required by lenders to:
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