An estimate of value made in the
appraisal process following the selection of
the most appropriate approach to value for
the property being appraised and the
completion of the reconciliation.
The final estimate can be given as a
single point estimate or range of value.
Usually, clients will ask for a single point
estimate. However, if a range is requested,
it should be realistic as a wide range will
not be of practical use. The final estimate
of value should be given in rounded, as
opposed to exact terms, since the appraisal
process uses judgment and experience, and
the value given is an estimate only.
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