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Reconciliation Judgments in Real Estate Appraisal

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

In real estate appraisals, reconciliation is a process that utilizes _____.

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1. Which of the following is not a factor to consider when making an adjustment on an appraised property?

2. Which of the following is not relevant for appraisers when completing an appraisal?

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About This Quiz & Worksheet

Use the results of this tool to find possible areas of improvement. The questions cover definitions, factors and adjustments relevant to reconciliation judgments in appraisal.

Quiz & Worksheet Goals

The following areas are included:

  • Market-driven adjustments
  • What the reconciliation process utilizes
  • Final value estimates
  • Factors for making adjustments in property appraisals
  • Relevant information when completing an appraisal

Skills Practiced

Use the quiz and worksheet to practice these skills:

  • Defining key concepts - ensure that you can accurately define main phrases, such as reconciliation
  • Interpreting information - verify that you can read information regarding adjustments and interpret it correctly
  • Making connections - use understanding of the concept of real estate appraisals when answering questions about the related processes

Additional Learning

You can read the partner lesson, Reconciliation Judgments in Real Estate Appraisal, to learn more about this topic and cover any tricky areas. Included information:

  • Various approaches for final value estimates
  • Reasons why appraisers might come up with differing values for a property
  • The phases of the reconciliation process
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