Conclusion

The conclusion is the final opinion of value an appraiser or broker reaches after considering the evidence gathered during an assignment. It may be expressed as a single value or, when appropriate, a range and reflects professional judgment applied to the available data.

Reaching a conclusion requires reconciliation. The appraiser considers the reliability and relevance of the data, evaluates the quality of individual comparables and gives greater weight to the evidence that best reflects the subject property and market. When multiple valuation approaches are used, the appraiser also considers how their indications of value relate to one another.

The conclusion is a key part of the valuation because lenders, buyers, sellers and other stakeholders may rely on it when making decisions. The supporting data and commentary should provide a clear, credible basis for the final opinion of value.