About This Chapter
Reconciliation in Real Estate - Chapter Summary
When determining the value of a real estate property, there are several different factors that play a role. This chapter will show you the different approaches used to appraise property. The topics covered in this chapter include:
- Real estate appraisal and reconciliation judgments
- Determining value using the sales comparison approach
- Assessing value using the cost approach
- How the value can be ascertained using the income approach
Our entertaining videos and self-administered quizzes will help you to learn these important concepts in real estate. Like the rest of the course, this chapter is meant to be worked at your own pace so that there is never a time that you feel overwhelmed. If you do have any issues, though, feel free to reach out to our experts who are available to help.
1. Reconciling Indicated Value with the Sales Comparison Approach
Appraisal prices are not merely opinions; they must be reconciled. This lesson will cover ways that appraisers can justify and reconcile their adjusted sales price.
2. Reconciliation to Indicated Value by the Cost Approach
The purpose of this lesson is to explain how to perform reconciliation to indicated value by the cost approach to property valuation. The cost approach formula will be explained and demonstrated.
3. Reconciliation to Indicated Value by the Income Approach
In this lesson, you'll learn how to perform reconciliation to indicated value by the income approach to property valuation. The formula for the income approach to property valuation will be explained and demonstrated.
4. 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 Arizona AQB Certified General Appraiser Exam: Study Guide course
- The Real Estate Market
- Understanding Real Estate Value
- Real Estate Investment & Analysis
- Government, Land Use & Regulations in Real Estate
- Transferring Real Property
- Land Descriptions & Surveys
- Forms of Property Ownership
- Advanced Property Ownership Issues
- Land & Site Valuation
- Sales Comparison Approach to Real Estate Valuation
- Cost Approach to Real Estate Valuation
- Income Approach to Real Estate Valuation
- Uniform Standards of Professional Appraisal Practice (USPAP)
- Arizona AQB Certified General Appraiser Exam Flashcards