Reconciliation | Real Estate Glossary

Definition of "Reconciliation"

Maureen McCann

keller williams legacy

In appraisal, the process of reconciling three major approaches-that is, the market comparison,
cost, and income approaches-to arrive at an estimate of the value of the subject property being
appraised.
Adjusting the difference between two items so that the figures agree. A real estate company
often has to analyze the deviation between two items, such as in preparing a bank reconciliation.
For example, a reconciliation occurs when comparing the home office books account related to branch
transactions with the corresponding account on the branch office books related to home office
transactions. These two accounts are adjusted for the reconciling items causing the difference.

Low level of land positioned between mountains or hills. ...

Also called variable or flexible rate mortgage. A mortgage where the interest rate is not constant, ...

Coverage up to specific limits for payments demanded by kidnappers for the release of an insured hel ...

Giving money, a good, or service that is worth something in exchange for another good or service pro ...

Stipulations of the rights and obligations of an insured and an insurer under a policy. ...

Life insurance company agency that sells ordinary life insurance and industrial life insurance. ...

A foreclosure is the legal process by which a mortgage property is seized due to default and then so ...

A subagent is an agent who works with you to purchase a house but is paid by the seller. ...

An agent who is authorized to open and run his/her own agency. All real estate offices have one prin ...

General Liability Coverage includes: Bodily Injury Liability Coverage: Help protect you in case ...

A mortgagor is the borrower. ...

This calculator will amortize your mortgage over the loan period based on your input. To see a break ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews