About This Chapter
Reconciliation in Real Estate Appraisal - Chapter Summary
The lessons in this chapter provide an overview of reconciliation in real estate appraisal. For instance, you'll learn about the relevance of value indicators in reconciliation. You can also discover how a reconciliation judgment is made. After completing the chapter, you should be prepared to:
- Define reconciliation in real estate
- Identify value indicators in reconciliation
- Explain how the reliability of a value indicator is assessed
- Outline how errors are corrected in reconciliation judgments
This chapter on reconciliation in real estate appraisal is informative, concise, and accessible from a desktop computer or mobile device. Our instructors use a teaching style that keeps you engaged throughout the chapter. To confirm that you understand the content, a brief self-assessment quiz is available for each lesson.
1. Reconciliation in Real Estate: Definition & Use
Learning to appraise a property requires looking at many different factors to determine the value of the property. Reconciliation is an important aspect of reaching the property's value.
2. Value Indicators in Reconciliation
Reconciliation is the last step an appraiser uses to select a final value from multiple indications of value. This lesson will cover the importance of the amount of data available, the level of accuracy of that data, and the relevance to the subject property.
3. Reconciliation Judgments in Real Estate Appraisal
The final judgment value of an appraised property lies with the appraiser. A final value estimate uses multiple techniques and values to reconcile them into one single opinion of value.
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Other chapters within the Ohio General Appraiser Exam: Study Guide & Practice course
- Real Property & Property Ownership
- Real Estate Value
- Government Powers in Real Estate
- Surveying Property in Real Estate
- Building Components & Structures
- Liens & Encumbrances in Real Estate
- Rights to Use in Real Estate
- Land & Site Valuation
- Statistics, Valuation Models & Finance for Real Estate
- Common Real Estate Calculations
- Sales Comparison Approach in Real Estate
- Cost Approach in Real Estate
- Income Approach in Real Estate
- USPAP Compliance
- Real Estate Appraisal Report Writing