Property Valuation
A Pennsylvania appraiser performing a review appraisal (review of another appraiser's report) must:
ASimply verify that the math is correct in the original report
BComply with USPAP Standards 3 and 4 governing review assignments✓ Correct
CObtain a higher license than the original appraiser
DReport only to PREC and not to the client
Explanation
Appraisal review in Pennsylvania is governed by USPAP Standards 3 and 4. The reviewer must properly define the scope of work, form and support their own opinions about the original appraisal's quality, and may or may not develop their own value opinion depending on the scope of the review assignment.
Related Pennsylvania Property Valuation Questions
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