Property Valuation
In Colorado, an appraiser who knowingly provides a false or misleading appraisal report may face:
AA. Only a fine from the Colorado Board of Real Estate Appraisers
BB. License revocation, civil liability, and federal criminal charges for appraisal fraud if the appraisal is used in a federally related transaction✓ Correct
CC. Only a reprimand from USPAP's oversight body
DD. No consequences if no one was harmed
Explanation
Appraisal fraud (intentionally providing false values to support fraudulent transactions) is a federal crime under 18 U.S.
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Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
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