Property Valuation
Under Ohio appraisal standards, an appraiser is prohibited from accepting a 'contingent fee' that is based on:
ACompleting the appraisal within a short timeframe
BReaching a predetermined value outcome✓ Correct
CAppraising a specific geographic area
DProviding a minimum number of comparable sales
Explanation
USPAP prohibits contingent fees based on achieving a predetermined value, result, or outcome. The appraisal fee must not be contingent on the value conclusion or on the property being approved for financing.
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