Property Valuation
A Utah appraiser's final value conclusion presented in a range (e.g., $395,000–$415,000) rather than a point estimate is:
ARequired by USPAP for all residential appraisals
BAcceptable when the evidence supports a range, though lenders often require a point estimate✓ Correct
CProhibited by Utah Division of Real Estate regulations
DRequired for all commercial appraisals
Explanation
While appraisers may sometimes indicate a range of value, lenders typically require a single point estimate for mortgage lending purposes. USPAP does not prohibit range estimates in appropriate contexts.
Related Utah Property Valuation Questions
- The cost approach to value is most reliable for:
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