Question

When an appraiser correlates the three approaches into a final estimate, he:

a) Prioritizes the cost approach
b) Averages the three approaches
c) Selects the highest value
d) Weighs each approach based on relevance

Answer 1

When an appraiser correlates the three approaches into a final estimate, d. he weighs each approach based on relevance.

Step-by-step explanation:

When an appraiser correlates the three approaches into a final estimate, d. he weighs each approach based on relevance. This means that the appraiser considers the strengths and weaknesses of each approach and determines how relevant they are to the specific property being appraised.

The appraiser assigns more importance to the approach that provides the most accurate and reliable estimation of value based on the property's characteristics and market conditions. By weighing each approach, the appraiser can arrive at a comprehensive and well-informed final estimate.