Property Valuation
An appraiser conducting a Texas appraisal must be objective and independent. When the lender pressures the appraiser to hit a predetermined value, the appraiser should:
AAdjust the value to maintain the business relationship
BRefuse and report the pressure to TREC or the appropriate lender oversight agency✓ Correct
CProvide the requested value with a disclaimer note
DGive the lender a slightly lower value as a compromise
Explanation
Under USPAP, appraisers must be independent and objective. Pressure to produce a predetermined value violates FIRREA, USPAP, and potentially federal law. Appraisers should refuse and may be required to report the pressure to TREC and the appropriate bank regulators.
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