Property Valuation
Reconciliation in a Washington appraisal report means:
AAveraging the three approaches to determine value
BWeighting and analyzing each approach to arrive at a final supported opinion of value✓ Correct
CSelecting the highest value from the three approaches
DAdjusting the sales comparison to match the cost approach
Explanation
Reconciliation is the appraiser's process of analyzing and weighting the results of the approaches used to arrive at a final, defensible opinion of market value. It is not a simple average.
Related Washington Property Valuation Questions
- The term 'effective gross income' in a property appraisal means:
- Economic obsolescence (external obsolescence) in property valuation is caused by:
- In Washington, an appraiser's scope of work is determined by:
- An appraiser studying market conditions in Tacoma notes that residential properties are selling in less than 7 days with multiple offers. This market condition is described as a:
- The principle of substitution in real estate valuation states that:
- The Washington Department of Revenue uses what method to verify real estate sale prices for REET calculation?
- Under the income approach, a vacancy and collection loss allowance is deducted from potential gross income to account for:
- In Washington, a property owner who believes their property is over-assessed may appeal to the:
Practice More Washington Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Washington Quiz →