Property Valuation (alternative)
Under USPAP, a Maryland appraiser who is asked to provide a specific predetermined value by the lender must:
AProvide the requested value to maintain the client relationship
BRefuse — USPAP prohibits appraisers from accepting assignments with predetermined or required outcomes✓ Correct
CReport the lender to MREC
DProvide a range of values including the requested one
Explanation
USPAP prohibits appraisers from accepting assignments that condition compensation or the engagement on reporting a predetermined value. This protects appraisal integrity.
Related Maryland Property Valuation (alternative) Questions
- In Maryland, an appraiser's adjustment for location differences between properties recognizes that:
- The 'economic rent' of a property exceeds the 'contract rent' when:
- In Maryland, the principle of 'balance' in appraisal theory states that:
- The 'price per square foot' metric in Maryland real estate analysis is a:
- The direct capitalization method used by Maryland appraisers estimates value by:
- When appraising Maryland waterfront property, the premium over a non-waterfront comparable is:
- A Maryland neighborhood with predominantly aging, poorly maintained properties and declining values is said to be in a phase of the property cycle known as:
- In Maryland, when an appraiser 'brackets' the subject property with comparables, this means they select:
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