Now that Bob and Bonnie buyer from the Week 9 Assignment have applied for their loan, they need to get the house appraised. In Chapter 12, we learned about the three different approaches to appraisals. Create an outline that explains each of the three appraisal approaches to Bob and Bonnie. Additionally, explain the Reconciliation of Value and the Final Estimate of Value as they relate to appraisals. The purpose of this assignment is not to repeat what is in the text. The purpose is to explain it to Bob and Bonnie so they understand the process.
Be sure to cite your sources.
The Appraisal Process
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