Property Valuation
A Kentucky appraiser's report must comply with USPAP, which requires the appraiser to maintain:
AA real estate license in addition to an appraiser license
BIndependence, impartiality, and objectivity✓ Correct
CAffiliation with a national appraisal firm
DKREC membership
Explanation
USPAP requires appraisers to be independent, impartial, and objective. An appraiser must not have a personal interest in the outcome of the appraisal that would bias their judgment.
Related Kentucky Property Valuation Questions
- A Kentucky appraiser is performing a retrospective appraisal to determine value as of a past date for an estate. The appraiser must use data that was available:
- A Kentucky appraisal report that is prepared for a federally related transaction must comply with:
- When a Kentucky appraiser notes that a property has more bathrooms than is typical for the neighborhood, this excess is called:
- The 'replacement cost' in the cost approach differs from 'reproduction cost' in that replacement cost uses:
- In Kentucky, a Broker Price Opinion (BPO) is typically prepared by:
- A Kentucky commercial property appraiser must disclose in their report any:
- When making adjustments in the sales comparison approach, if a comparable property has a feature the subject property lacks, the appraiser should:
- A Kentucky appraiser must retain a copy of their completed appraisal report for how long after the date of the report?
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