Property Valuation
In Tennessee, an appraiser who assigns a value higher than market value to please the lender or buyer is:
AProviding good customer service
BCommitting appraisal fraud✓ Correct
CEngaged in legal value advocacy
DPracticing standard appraisal methodology
Explanation
Intentionally inflating or deflating an appraisal value to satisfy a client, facilitate a loan, or for any other improper purpose constitutes appraisal fraud — a serious violation of USPAP and federal law.
Related Tennessee Property Valuation Questions
- In Tennessee, the 'effective age' of a building for appraisal purposes refers to:
- An appraisal performed for a federally regulated mortgage transaction in Tennessee must be completed by:
- In Tennessee, a 'broker price opinion' (BPO) is:
- A building has an economic life of 50 years and an effective age of 10 years. Its remaining economic life is:
- Functional obsolescence in a property refers to:
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- The 'before and after' method of appraisal is used in cases of:
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