Property Valuation
A Colorado appraiser is required to comply with USPAP's 'Scope of Work Rule,' which requires the appraiser to:
AA. Always perform all three appraisal approaches
BB. Determine and clearly describe the extent of the research and analysis necessary to produce credible results appropriate for the assignment✓ Correct
CC. Always inspect the interior of the property
DD. Always use a licensed inspector for structural issues
Explanation
USPAP's Scope of Work Rule requires appraisers to identify the problem to be solved, determine the appropriate scope (extent of research and analysis needed), and clearly describe the scope in the report. The scope must be sufficient to produce credible results for the intended use. The minimum competency standard is that the scope produces credible results — not the maximum level of effort in all cases.
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