Property Valuation
A Texas appraisal that is ordered for the purpose of supporting a foreclosure sale must comply with:
ATREC guidelines for commercial transactions
BUSPAP and any applicable state and federal standards for appraisals in federally related transactions✓ Correct
COnly the lender's internal guidelines
DA simplified appraisal format approved by TALCB
Explanation
Appraisals supporting federally related mortgage transactions (including foreclosures on federally regulated lenders' portfolios) must comply with USPAP and the Interagency Appraisal and Evaluation Guidelines. Appraisers must be certified/licensed by TALCB and follow applicable standards regardless of the purpose.
Related Texas Property Valuation Questions
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