Property Valuation
In South Carolina, which of the following is TRUE about appraisal independence requirements?
ALenders may instruct appraisers to hit a specific value target
BAppraisers must be independent of pressure from lenders, real estate agents, or other parties with interest in the transaction✓ Correct
CSellers have the right to approve the appraiser chosen by the lender
DAppraisers must agree to re-appraise if the initial value is too low
Explanation
Appraiser independence is required by federal regulations (Dodd-Frank, AVR rules) and USPAP. Appraisers must be free from pressure to reach a predetermined value.
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