Property Valuation (alternative)
A Maryland appraiser who is asked to appraise a property in which the appraiser has a financial interest must:
AAppraise the property with additional care and documentation
BDisclose the interest and decline the assignment due to conflict of interest✓ Correct
CObtain a co-signer on the appraisal report
DGet MREC approval before proceeding
Explanation
USPAP and professional ethics prohibit appraisers from appraising properties in which they have a financial interest. Such conflicts of interest must be disclosed and the assignment declined.
Related Maryland Property Valuation (alternative) Questions
- An appraiser in Maryland who is asked to use a specific comparable by the lender should:
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