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Reconciliation important part of overall appraisal process

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Question

1. Why is Reconciliation an important part of overall Appraisal process? Could more than one Approach to Value method be applied to a Subject Property? If so, how does the Reconciliation process help the Appraiser with the data calculated?

2. Describe the differences between the content of an "Appraisal Report" vs a "Restricted Appraisal Report? What is the difference between the Report formats "Form" vs "Narrative" and when is one type typically used over the other?

3. What does the Book describe as the two basic requirements for Membership in most professional appraisal associations? What perceived value do you think would be obtained with being associated with and designated by a Professional Association?

4. Explain the important for an Appraiser to be ethical and have integrity when doing Real Estate Appraisals? Describe the responsibility an Appraiser has to help protect the Public, their Clients, and the Real Estate Industry in general and provide examples of how abuses can occur?

Reference no: EM133458787

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