Reconciliation in Real Estate: Definition & Use

Instructions:

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

question 1 of 3

What is real estate reconciliation?

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1. How are comparable properties used in real estate appraisals?

2. If you are appraising a hotel, what is the best method to use?

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About This Quiz & Worksheet

Assess your knowledge of real estate reconciliation with this quiz and worksheet combination. The quiz asks you to select the best definition for reconciliation and identify different real estate appraisal methods.

Quiz & Worksheet Goals

These assessments quiz you on:

  • The definition of real estate reconciliation
  • How comparable properties are used in appraisals
  • Best method for appraising a hotel
  • When a real estate appraiser can use units of comparison
  • How the cost approached is used in appraisals

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about real estate appraisals
  • Interpreting information - verify that you can read information regarding how cost approached is used and interpret it correctly
  • Reading comprehension - ensure that you draw the most important information from the related reconciliation in real estate lesson

Additional Learning

Review the accompanying lesson called Reconciliation in Real Estate: Definition & Use to discover more about the subject. This lesson focuses on the following objectives:

  • Explain the process of reconciling value through comparable properties
  • Define units of comparison
  • Recall additional factors that should be considered during the units of comparison process
  • Describe additional methods for appraisal
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