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14 Cards in this Set
- Front
- Back
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Accuracy
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measured by the correctness of data & adjustments to each comparable
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Appropriateness
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the applicability of each approach to the appraisal
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Confidence interval
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the possible range of values in which the point estimate value lies
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Final value estimate
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the indicated range or point estimate made by the judgement of the appraiser
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Gross adjustment
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an adjustment or total adjustments ignoring negative signs; the absolute value of adjustments
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Net adjustment
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the adjustment to a comparable after netting positive & negative adjustments
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Point estimate
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a single dollar amount
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Probability range
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a range of value from low to high that the point estimate of value may be found
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Quantity of evidence
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refers to the amount of data in the 3 approaches
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Range of value
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value shown or indicated from a potential low to high value
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Reasonableness
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logical or rational justification, as well as consistency in deriving a value
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Reconciliation
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analysis of alternatives to arrive at a conclusion
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Reconciliation criteria
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appropriateness; accuracy; quantity of evidence
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Rounding
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indicating a less precise value from more precise by using e.g. significant digits (rounding to the least accurate significant digits used in the calculations)
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