Property Valuation
In Oklahoma, an appraiser who accepts an assignment with a predetermined value (one that the client specifies must be reached) is:
AProviding a valuable service to the lender
BViolating USPAP's Conduct section and potentially engaging in appraisal fraud; appraisers must be independent and unbiased✓ Correct
CPermitted if the client is a licensed broker
DOnly a problem if the predetermined value is too high
Explanation
USPAP prohibits appraisers from accepting assignment conditions that call for a predetermined value conclusion. An appraiser must form an independent, unbiased opinion.
Related Oklahoma Property Valuation Questions
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