Practice & MathQuestion 94 of 100
The process of weighing the value estimates from multiple appraisal approaches into a final opinion of value is called:
a.Reconciliation
b.Amortization
c.Capitalization
d.Depreciation
Explanation
Reconciliation is the final step of an appraisal where the appraiser weighs the results of the different approaches to arrive at a single value opinion. It is a judgment process, not a simple averaging. The appraiser gives most weight to the most reliable approach for that property.
Practice all 100 questions free — no signup required.
Related questions on this topic
- A key responsibility of a property manager is to:
- A property owner wants a 12% annual return on a $250,000 investment. What annual net income must the property generate?
- A property management agreement between an owner and a property manager typically creates:
- A comparable property sold for $310,000 but has an extra bathroom worth $10,000 that the subject property lacks. To adjust, the appraiser would:
- A tenant who remains in possession after the lease expires without the landlord's consent creates a:
- A lease with a definite beginning and ending date, such as a one-year lease, is an:
Last reviewed: · editorial process
PrepPass Editorial Team · Verified against New York Real Estate Salesperson Licensing Exam · How we review