Property Valuation (alternative)
An appraiser in Maryland who is asked to use a specific comparable by the lender should:
AAlways comply to maintain the client relationship
BUse the comparable only if it is genuinely relevant and its use meets USPAP standards✓ Correct
CRefuse any guidance from the lender
DUse it only if it increases the value
Explanation
An appraiser may use a lender-suggested comparable if it meets appraisal standards and is truly comparable. However, using it because the lender wants a specific value would violate USPAP.
Related Maryland Property Valuation (alternative) Questions
- An adjustment for a superior feature in a comparable sale when using the sales comparison approach means the appraiser will:
- In the income approach to appraisal, 'effective gross income' is calculated as:
- Reproduction cost in Maryland appraisal is the cost to build:
- Functional obsolescence in a Maryland home appraisal refers to:
- In Maryland, the cost approach is MOST useful when appraising:
- A Maryland appraiser finds that a nearby commercial facility has reduced a residential property's value by $20,000. This is an example of:
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