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When an appraiser is reconciling comparable sales, they do not average the sales. Each sale is looked at individually, analyzed based on research and drive-by data, adjusted for differences and then reconciled as to how it compares to the subject property.
The average residential appraiser salary in North Carolina is $82,643 per year or $39.73 per hour. Entry level positions start at $56,278 per year while most experienced workers make up to $135,000 per year.
Reconciliation is the process of comparing transactions and activity to supporting documentation. Further, reconciliation involves resolving any discrepancies that may have been discovered.
Reconciliation is defined as: "A phase of a valuation assignment in which two or more value indications are processed into a value opinion, which may be a range of value, a single point estimate, or a reference to a benchmark value."
An appraiser performs a complete and detailed analysis of a property to determine its market value. Appraisers conduct site visits and document property features, comparing them against similar properties.
How to Become a Real Estate Appraiser in North Carolina: Your 5-Step Guide Obtain Your North Carolina Registered Trainee Appraiser License. ... Complete Your Appraiser Education. ... Conduct Appraisal Work Experience. ... Pass the National Uniform Licensing & Certification Examination.
Section 5.7 ? Reconciliation The final step in the appraisal process is to consider and analyze the relevance of the approaches to value in relation to the subject property and the reliability, quality and quantity of the data used in the approaches to value.
Reconciliation is a phase in the appraisal process that occurs when an appraiser uses multiple methods of calculating a value, and then assesses which one of those approaches is the best fit for this particular property.