Question
Reconciliation process- (worth 10 points total. RUBRIC= 1pt for each correct T/F, 1pt each for relevant explanation as to why). Indicate if each Statement is
Reconciliation process- (worth 10 points total. RUBRIC= 1pt for each correct T/F, 1pt each for relevant explanation as to why). Indicate if each Statement is True or False AND describe why this is the case. 1. Reconciliation is used to combine different value indicators into a single estimate of value. 2. Using a greater number of value indicators increases the disparity between them and makes the final estimate less reliable. 3. When value indicators differ, the appraiser must and will repeat the reconciliation process until each value indicator is exactly the same. 4. One reason why an appraiser might need to reconcile the values of different comparables is to find an indicator of the site value of the Subject property in the Cost Approach. 5. In the Sales Comparison Approach, an appraiser may have to reconcile value indicators that are based on different units of comparison.
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