Property Valuation
In Louisiana, an appraiser who discovers after issuing a report that they made a significant error must:
ADo nothing — the report is already issued
BIssue a corrected or amended report and notify the client, following USPAP requirements✓ Correct
CWait to see if the error is discovered by others
DOnly disclose the error if asked directly by the client
Explanation
USPAP requires appraisers to act ethically when they discover significant errors in issued reports. The appraiser must issue a corrected or amended report and notify the client to prevent reliance on the erroneous value conclusion.
Related Louisiana Property Valuation Questions
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