Property Valuation
A Massachusetts appraiser notes that comparable sales data is limited due to the uniqueness of the subject property. The appraiser should:
AUse only the cost approach and ignore other approaches
BAcknowledge the limitation in the appraisal report and explain how the limitation affects reliability✓ Correct
CEstimate value without disclosing the data limitation
DRefuse to complete the appraisal
Explanation
USPAP requires appraisers to disclose significant data limitations that affect the reliability of the appraisal. The appraiser must explain how the limited comparable sales data impacts the analysis and conclusions of the report.
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