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The Appraisal Process

National · Valuation & Appraisal — free study notes for the real estate licensing exam.

📐 Valuation & Appraisal

📖 What you need to know

An appraiser: defines the problem (purpose, value type, date) → gathers data → analyzes highest & best use → applies the three approaches (sales comparison, cost, income) → reconciles them into a final opinion of value → reports it. Reconciliation is NOT averaging; the appraiser weights the most reliable approach for the property type (sales comparison for homes, income for rentals, cost for special-purpose).

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Related in Valuation & Appraisal

Sales Comparison — Adjust the COMPNationalCost Approach — Build It FreshNationalIncome Approach — GRM & Cap RateNationalDepreciation — The Three KillersNationalCMA vs BPO vs AppraisalNationalPrice ≠ Cost ≠ ValueNationalValue — Principles & ApproachesNationalFactors That Create Value — DUSTNational

Questions students ask

Is The Appraisal Process on the real estate exam?

Yes. Valuation & Appraisal is a scored domain on the real estate licensing exam, and this topic appears in the national portion.

Is this cheat sheet free?

Yes — every page on CinnaPrep's resource library is free to read, print and share. The app adds practice questions, mock exams and a readiness score.

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