Property Valuation
A Delaware appraisal determines the value of a residential property at $350,000. The bank's loan officer believes the value should be $390,000. Who has the authority to change the appraised value?
AThe bank's loan officer
BOnly the original appraiser, based on valid factual data✓ Correct
CThe buyer if they disagree
DThe Delaware Real Estate Commission upon request
Explanation
Only the appraiser may change the appraised value, and only based on valid factual data that was not previously considered. Lender pressure to inflate values violates FIRREA and Uniform Standards of Professional Appraisal Practice (USPAP).
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